ImmunityBio's (IBRX) Buy Rating Reaffirmed at D. Boral Capital

Key Points

• ImmunityBio's stock received a "buy" rating from D. Boral Capital with a price target of $30.00, reflecting confidence in its growth potential.
• Multiple brokerages have given ImmunityBio favorable ratings, with Piper Sandler upgrading its target price from $4.25 to $5.00 and HC Wainwright maintaining an $8.00 target.
• Recent institutional investments have increased, with Vanguard and Citigroup significantly boosting their stakes in ImmunityBio, indicating strong institutional interest in the company.

D. Boral Capital reiterated their buy rating on shares of ImmunityBio (NASDAQ:IBRX - Free Report) in a report released on Friday,Benzinga reports. D. Boral Capital currently has a $30.00 target price on the stock.

IBRX has been the topic of several other research reports. Piper Sandler raised ImmunityBio from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $4.25 to $5.00 in a research note on Tuesday, May 20th. HC Wainwright reissued a "buy" rating and set a $8.00 target price on shares of ImmunityBio in a research report on Wednesday, June 4th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $12.25.

ImmunityBio Stock Down 7.3%

Shares of IBRX traded down $0.21 during mid-day trading on Friday, hitting $2.65. The stock had a trading volume of 8,506,811 shares, compared to its average volume of 7,720,825. The company's fifty day simple moving average is $2.81 and its two-hundred day simple moving average is $2.85. The company has a market cap of $2.34 billion, a PE ratio of -4.57 and a beta of 0.08. ImmunityBio has a fifty-two week low of $1.83 and a fifty-two week high of $7.48.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.03). The firm had revenue of $16.52 million during the quarter, compared to analyst estimates of $17.50 million. Equities analysts expect that ImmunityBio will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On ImmunityBio

A number of hedge funds have recently modified their holdings of IBRX. Swiss National Bank grew its holdings in ImmunityBio by 1.5% in the 4th quarter. Swiss National Bank now owns 274,000 shares of the company's stock valued at $701,000 after buying an additional 4,000 shares during the period. Thrive Wealth Management LLC boosted its position in shares of ImmunityBio by 49.3% in the 2nd quarter. Thrive Wealth Management LLC now owns 15,041 shares of the company's stock valued at $40,000 after purchasing an additional 4,964 shares during the period. Courier Capital LLC lifted its stake in ImmunityBio by 12.5% in the 2nd quarter. Courier Capital LLC now owns 45,000 shares of the company's stock worth $119,000 after acquiring an additional 5,000 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of ImmunityBio by 7.7% during the 4th quarter. ProShare Advisors LLC now owns 73,773 shares of the company's stock worth $189,000 after purchasing an additional 5,261 shares in the last quarter. Finally, XTX Topco Ltd raised its stake in shares of ImmunityBio by 5.4% in the 1st quarter. XTX Topco Ltd now owns 111,647 shares of the company's stock valued at $336,000 after acquiring an additional 5,764 shares in the last quarter. 8.58% of the stock is currently owned by hedge funds and other institutional investors.

ImmunityBio Company Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins; DNA, RNA, and recombinant protein vaccines; and cell therapies.