ImmunityBio (NASDAQ:IBRX) Stock Price Up 7.8% – Still a Buy?

ImmunityBio, Inc. (NASDAQ:IBRX)’s stock price traded up 7.8% on Monday . The stock traded as high as $2.92 and last traded at $2.84. 1,766,412 shares were traded during trading, a decline of 69% from the average session volume of 5,725,808 shares. The stock had previously closed at $2.63.

Analyst Ratings Changes

A number of research firms have recently commented on IBRX. BTIG Research assumed coverage on shares of ImmunityBio in a report on Friday, January 10th. They issued a “buy” rating and a $6.00 price target on the stock. D. Boral Capital reaffirmed a “buy” rating and set a $30.00 target price on shares of ImmunityBio in a research report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of ImmunityBio in a report on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $12.19.

ImmunityBio Stock Performance

The firm’s fifty day moving average price is $3.00 and its 200 day moving average price is $3.52. The firm has a market cap of $2.37 billion, a P/E ratio of -3.02 and a beta of 0.51.

ImmunityBio (NASDAQ:IBRX) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.11. The business had revenue of $7.55 million during the quarter, compared to the consensus estimate of $8.74 million. As a group, analysts expect that ImmunityBio, Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ImmunityBio

A number of institutional investors have recently added to or reduced their stakes in IBRX. Stephens Inc. AR bought a new stake in shares of ImmunityBio in the 4th quarter valued at about $26,000. Thrive Wealth Management LLC purchased a new stake in ImmunityBio during the first quarter valued at approximately $30,000. Cibc World Markets Corp acquired a new stake in ImmunityBio in the fourth quarter valued at approximately $35,000. Maia Wealth LLC purchased a new position in ImmunityBio in the fourth quarter worth $37,000. Finally, GF Fund Management CO. LTD. acquired a new position in shares of ImmunityBio during the fourth quarter worth $37,000. Institutional investors own 8.58% of the company’s stock.

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.