D. Boral Capital Reaffirms Buy Rating for ImmunityBio (NASDAQ:IBRX)

ImmunityBio (NASDAQ:IBRX - Get Free Report)'s stock had its "buy" rating restated by D. Boral Capital in a research note issued on Tuesday,Benzinga reports. They currently have a $30.00 target price on the stock.

Several other analysts have also recently weighed in on IBRX. BTIG Research assumed coverage on shares of ImmunityBio in a research note on Friday, January 10th. They issued a "buy" rating and a $6.00 price target for the company. HC Wainwright reiterated a "buy" rating and issued a $8.00 price objective on shares of ImmunityBio in a research report on Thursday, March 13th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $12.19.

ImmunityBio Trading Down 0.4 %

IBRX stock traded down $0.01 during mid-day trading on Tuesday, reaching $2.47. The company's stock had a trading volume of 4,693,391 shares, compared to its average volume of 5,816,220. The company's 50 day moving average is $2.95 and its two-hundred day moving average is $3.50. ImmunityBio has a fifty-two week low of $2.28 and a fifty-two week high of $10.53. The stock has a market cap of $2.11 billion, a PE ratio of -2.68 and a beta of 0.51.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.11. The company had revenue of $7.55 million during the quarter, compared to analyst estimates of $8.74 million. On average, analysts forecast that ImmunityBio will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank lifted its stake in ImmunityBio by 1.5% during the 4th quarter. Swiss National Bank now owns 274,000 shares of the company's stock worth $701,000 after acquiring an additional 4,000 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of ImmunityBio by 7.7% during the fourth quarter. ProShare Advisors LLC now owns 73,773 shares of the company's stock worth $189,000 after purchasing an additional 5,261 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of ImmunityBio by 20.4% in the fourth quarter. Teacher Retirement System of Texas now owns 41,742 shares of the company's stock valued at $107,000 after purchasing an additional 7,067 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in ImmunityBio by 29.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 37,006 shares of the company's stock worth $95,000 after buying an additional 8,359 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in ImmunityBio by 40.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 28,955 shares of the company's stock worth $74,000 after buying an additional 8,380 shares in the last quarter. 8.58% of the stock is currently owned by hedge funds and other 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.