ImmunityBio’s (IBRX) “Buy” Rating Reiterated at D. Boral Capital

D. Boral Capital reissued their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a research note released on Wednesday morning,Benzinga reports. D. Boral Capital currently has a $30.00 price target on the stock.

Several other analysts have also recently commented on IBRX. HC Wainwright reiterated a “buy” rating and issued a $8.00 target price on shares of ImmunityBio in a report on Wednesday, April 16th. BTIG Research began coverage on ImmunityBio in a research note on Friday, January 10th. They set a “buy” rating and a $6.00 target price for the company. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, ImmunityBio currently has an average rating of “Buy” and a consensus target price of $12.19.

ImmunityBio Price Performance

Shares of ImmunityBio stock opened at $2.61 on Wednesday. The company’s 50 day moving average price is $2.87 and its two-hundred day moving average price is $3.47. The firm has a market capitalization of $2.23 billion, a P/E ratio of -2.84 and a beta of 0.51. ImmunityBio has a fifty-two week low of $2.28 and a fifty-two week high of $10.53.

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

Institutional Trading of ImmunityBio

Hedge funds have recently bought and sold shares of the business. Barclays PLC raised its holdings in shares of ImmunityBio by 127.4% in the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock worth $1,344,000 after acquiring an additional 202,248 shares during the last quarter. Altium Capital Management LLC bought a new stake in ImmunityBio during the fourth quarter worth $2,714,000. Vanguard Group Inc. raised its position in ImmunityBio by 2.5% in 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. Handelsbanken Fonder AB boosted its holdings in ImmunityBio by 71.2% during the 4th quarter. Handelsbanken Fonder AB now owns 92,300 shares of the company’s stock worth $236,000 after acquiring an additional 38,400 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of ImmunityBio in the fourth quarter valued at about $58,000. Institutional investors and hedge funds 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.