D. Boral Capital Reaffirms Buy Rating for ImmunityBio (NASDAQ:IBRX)

Key Points

• D. Boral Capital has reaffirmed a "buy" rating for ImmunityBio (IBRX) with a target price of $24.00, while other analysts have set targets ranging from $5.00 to $10.75.
• ImmunityBio reported revenue of $26.43 million for the last quarter, exceeding analyst expectations, and has an average rating of "Buy" across multiple analysts.
• Institutional investors have shown increased interest, with Vanguard Group boosting its stake by 17.4%, indicating growing confidence in the company's future prospects.

ImmunityBio (NASDAQ:IBRX - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at D. Boral Capital in a research note issued on Thursday,Benzinga reports. They presently have a $24.00 price target on the stock.

A number of other equities research analysts have also recently weighed in on IBRX. Piper Sandler upgraded ImmunityBio from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $4.25 to $5.00 in a research note on Tuesday, May 20th. HC Wainwright reissued a "buy" rating and issued a $8.00 price objective on shares of ImmunityBio in a research report on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $10.75.

ImmunityBio Trading Down 5.1%

Shares of NASDAQ IBRX traded down $0.1250 during trading hours on Thursday, reaching $2.3050. The stock had a trading volume of 6,409,562 shares, compared to its average volume of 7,860,370. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -4.80 and a beta of 0.12. The business's fifty day moving average price is $2.73 and its two-hundred day moving average price is $2.80. ImmunityBio has a 52-week low of $1.83 and a 52-week high of $7.48.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $26.43 million during the quarter, compared to analysts' expectations of $21.95 million. Equities research analysts anticipate that ImmunityBio will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of ImmunityBio

Large investors have recently bought and sold shares of the business. Armistice Capital LLC acquired a new stake in ImmunityBio in the 2nd quarter valued at about $20,497,000. Vanguard Group Inc. lifted its holdings in ImmunityBio by 17.4% in the first quarter. Vanguard Group Inc. now owns 20,344,554 shares of the company's stock valued at $61,237,000 after buying an additional 3,016,325 shares during the period. Woodline Partners LP increased its holdings in shares of ImmunityBio by 682.7% during the fourth quarter. Woodline Partners LP now owns 3,442,440 shares of the company's stock valued at $8,813,000 after acquiring an additional 3,002,622 shares in the last quarter. AlphaCore Capital LLC bought a new stake in ImmunityBio during the second quarter worth $7,854,000. Finally, Tang Capital Management LLC bought a new position in shares of ImmunityBio during the 4th quarter valued at approximately $7,204,000. 8.58% of the stock is owned by 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.