ImmunityBio (NASDAQ:IBRX) Receives Buy Rating from D. Boral Capital

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reiterated by investment analysts at D. Boral Capital in a research report issued on Wednesday,Benzinga reports. They presently have a $30.00 price objective on the stock.

A number of other research firms have also recently weighed in on IBRX. BTIG Research initiated coverage on shares of ImmunityBio in a research report on Friday, January 10th. They issued a “buy” rating and a $6.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of ImmunityBio in a report on Thursday, March 13th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $12.19.

ImmunityBio Stock Performance

Shares of NASDAQ:IBRX opened at $2.42 on Wednesday. The company has a market cap of $2.07 billion, a P/E ratio of -2.63 and a beta of 0.51. ImmunityBio has a one year low of $2.28 and a one year high of $10.53. The business’s 50-day simple moving average is $3.07 and its 200 day simple moving average is $3.56.

ImmunityBio (NASDAQ:IBRX) last posted its earnings results on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.11. The firm had revenue of $7.55 million for the quarter, compared to analyst estimates of $8.74 million. Analysts predict that ImmunityBio will post -0.92 earnings per share for the current year.

Institutional Investors Weigh In On ImmunityBio

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of ImmunityBio by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock valued at $44,360,000 after buying an additional 425,713 shares during the last quarter. State Street Corp grew its holdings in shares of ImmunityBio by 10.1% during the third quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after purchasing an additional 790,408 shares during the last quarter. Woodline Partners LP raised its position in shares of ImmunityBio by 682.7% during the 4th quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock worth $8,813,000 after purchasing an additional 3,002,622 shares during the period. Tang Capital Management LLC bought a new stake in shares of ImmunityBio in the 4th quarter worth approximately $7,204,000. Finally, Northern Trust Corp boosted its position in ImmunityBio by 7.9% during the 4th quarter. Northern Trust Corp now owns 1,323,424 shares of the company’s stock valued at $3,388,000 after purchasing an additional 97,348 shares during the period. 8.58% of the stock is owned by institutional investors and hedge funds.

About ImmunityBio

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.