ImmunityBio, Inc. (NASDAQ:IBRX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

ImmunityBio, Inc. (NASDAQ:IBRX) has been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $14.20.

A number of brokerages have commented on IBRX. Piper Sandler reiterated an “overweight” rating and issued a $12.00 price target (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. The Goldman Sachs Group reissued a “buy” rating on shares of ImmunityBio in a research report on Monday, February 23rd. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of ImmunityBio in a research report on Tuesday. BTIG Research reissued a “buy” rating and issued a $12.00 price objective on shares of ImmunityBio in a research report on Thursday, May 21st. Finally, D. Boral Capital reissued a “buy” rating and issued a $23.00 price objective on shares of ImmunityBio in a research report on Tuesday, May 5th.

ImmunityBio Price Performance

Shares of IBRX stock opened at $7.29 on Friday. The stock has a market cap of $7.64 billion, a P/E ratio of -8.58 and a beta of 0.03. The company has a fifty day moving average price of $7.58 and a two-hundred day moving average price of $5.95. ImmunityBio has a one year low of $1.95 and a one year high of $12.43.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.54). The business had revenue of $44.21 million for the quarter, compared to analysts’ expectations of $43.07 million. As a group, equities research analysts anticipate that ImmunityBio will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On ImmunityBio

Several large investors have recently modified their holdings of IBRX. Truist Financial Corp bought a new position in shares of ImmunityBio in the third quarter valued at about $27,000. Swiss Life Asset Management Ltd bought a new position in shares of ImmunityBio in the third quarter valued at about $27,000. WealthPlan Investment Management LLC bought a new position in shares of ImmunityBio in the fourth quarter valued at about $27,000. Diversify Advisory Services LLC bought a new position in shares of ImmunityBio in the second quarter valued at about $27,000. Finally, Kovack Advisors Inc. bought a new position in shares of ImmunityBio in the fourth quarter valued at about $27,000. 8.58% of the stock is owned by institutional investors.

About ImmunityBio

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.