ImmunityBio (NASDAQ:IBRX) Earns Buy Rating from Analysts at BTIG Research

Investment analysts at BTIG Research started coverage on shares of ImmunityBio (NASDAQ:IBRX - Get Free Report) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $6.00 price target on the stock. BTIG Research's target price indicates a potential upside of 147.93% from the company's current price.

Several other brokerages have also issued reports on IBRX. D. Boral Capital reiterated a "buy" rating and issued a $30.00 price target on shares of ImmunityBio in a research note on Monday. EF Hutton Acquisition Co. I raised ImmunityBio to a "strong-buy" rating in a research report on Wednesday, October 23rd.

ImmunityBio Price Performance

NASDAQ:IBRX traded down $0.14 during trading hours on Friday, reaching $2.42. 6,342,413 shares of the stock were exchanged, compared to its average volume of 4,723,412. ImmunityBio has a twelve month low of $2.38 and a twelve month high of $10.53. The stock has a market cap of $1.69 billion, a PE ratio of -2.63 and a beta of 0.86. The firm has a 50 day moving average of $3.96 and a 200 day moving average of $4.37.

Hedge Funds Weigh In On ImmunityBio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in ImmunityBio during the third quarter worth about $51,000. Barclays PLC increased its holdings in shares of ImmunityBio by 127.4% during the third quarter. Barclays PLC now owns 361,036 shares of the company's stock worth $1,344,000 after purchasing an additional 202,248 shares during the period. XTX Topco Ltd raised its position in shares of ImmunityBio by 309.4% in the third quarter. XTX Topco Ltd now owns 92,910 shares of the company's stock valued at $346,000 after buying an additional 70,215 shares in the last quarter. State Street Corp boosted its stake in shares of ImmunityBio by 10.1% in the third quarter. State Street Corp now owns 8,654,460 shares of the company's stock valued at $32,195,000 after buying an additional 790,408 shares during the period. Finally, HighTower Advisors LLC bought a new stake in shares of ImmunityBio during the 3rd quarter valued at $136,000. 8.58% of the stock is owned by institutional investors.

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.