ImmunityBio's (IBRX) Buy Rating Reaffirmed at D. Boral Capital

ImmunityBio (NASDAQ:IBRX - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at D. Boral Capital in a report issued on Thursday,Benzinga reports. They presently have a $30.00 target price on the stock.

Other analysts also recently issued research reports about the stock. BTIG Research started coverage on shares of ImmunityBio in a research report on Friday, January 10th. They set a "buy" rating and a $6.00 price target for the company. HC Wainwright initiated coverage on shares of ImmunityBio in a report on Thursday, March 6th. They set a "buy" rating and a $8.00 price objective for the company. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ImmunityBio presently has a consensus rating of "Buy" and an average target price of $12.19.

ImmunityBio Price Performance

ImmunityBio stock traded up $0.02 during midday trading on Thursday, hitting $2.89. 309,474 shares of the stock were exchanged, compared to its average volume of 6,092,129. The company has a 50 day moving average price of $3.07 and a two-hundred day moving average price of $3.68. The firm has a market cap of $2.46 billion, a P/E ratio of -3.15 and a beta of 0.82. ImmunityBio has a 1 year low of $2.28 and a 1 year high of $10.53.

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ImmunityBio (NASDAQ:IBRX - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.11. The business had revenue of $7.55 million during the quarter, compared to analyst estimates of $8.74 million. As a group, analysts predict that ImmunityBio will post -0.92 EPS for the current year.

Hedge Funds Weigh In On ImmunityBio

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

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