Weiss Ratings Reaffirms "Sell (E+)" Rating for ImmunityBio (NASDAQ:IBRX)

Key Points

• Weiss Ratings has reaffirmed a "Sell (E+)" rating for ImmunityBio (NASDAQ: IBRX), indicating concerns about the company's performance.
• While Weiss Ratings is bearish, analysts at HC Wainwright and D. Boral Capital have assigned a "Buy" rating with target prices of $8.00 and $24.00, respectively.
• ImmunityBio has recently reported a revenue of $26.43 million for the quarter, surpassing analysts' expectations, although its stock price remains under pressure with a current price of $2.52.

ImmunityBio (NASDAQ:IBRX - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by Weiss Ratings in a note issued to investors on Tuesday,Weiss Ratings reports.

A number of other equities analysts have also recently commented on the company. HC Wainwright reiterated a "buy" rating and issued a $8.00 target price on shares of ImmunityBio in a report on Wednesday, September 10th. D. Boral Capital reissued a "buy" rating and set a $24.00 price target on shares of ImmunityBio in a research note on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.75.

ImmunityBio Price Performance

Shares of ImmunityBio stock traded up $0.04 on Tuesday, reaching $2.52. The company had a trading volume of 4,856,989 shares, compared to its average volume of 8,237,842. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -5.24 and a beta of 0.27. The firm's 50-day moving average price is $2.49 and its two-hundred day moving average price is $2.62. ImmunityBio has a 1 year low of $1.83 and a 1 year high of $7.48.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported ($0.10) EPS for the quarter, hitting analysts' consensus estimates of ($0.10). The company had revenue of $26.43 million during the quarter, compared to analysts' expectations of $21.95 million. As a group, analysts anticipate that ImmunityBio will post -0.92 EPS for the current year.

Institutional Investors Weigh In On ImmunityBio

Institutional investors and hedge funds have recently bought and sold shares of the company. Diversify Advisory Services LLC bought a new stake in ImmunityBio during the 2nd quarter valued at $27,000. Financial Enhancement Group LLC purchased a new position in shares of ImmunityBio in the 2nd quarter valued at $28,000. Summit X LLC purchased a new position in shares of ImmunityBio in the 2nd quarter valued at $28,000. Envision Financial Planning LLC purchased a new position in shares of ImmunityBio in the 2nd quarter valued at $28,000. Finally, Slow Capital Inc. purchased a new position in shares of ImmunityBio in the 1st quarter valued at $30,000. 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.

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