ImmunityBio (NASDAQ:IBRX – Get Free Report) was upgraded by equities researchers at EF Hutton Acquisition Co. I to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks.com reports.
Separately, Piper Sandler reduced their price objective on ImmunityBio from $6.00 to $4.75 and set a “neutral” rating for the company in a research note on Monday, August 19th.
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ImmunityBio Stock Up 21.7 %
ImmunityBio (NASDAQ:IBRX – Get Free Report) last announced its earnings results on Monday, August 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The firm had revenue of $1.05 million during the quarter, compared to the consensus estimate of $2.53 million. Analysts expect that ImmunityBio will post -0.86 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBRX. Brookstone Capital Management purchased a new position in ImmunityBio during the first quarter valued at approximately $100,000. Courier Capital LLC grew its position in ImmunityBio by 33.3% during the first quarter. Courier Capital LLC now owns 20,000 shares of the company’s stock valued at $107,000 after purchasing an additional 5,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in ImmunityBio by 41.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,411 shares of the company’s stock valued at $319,000 after purchasing an additional 17,549 shares in the last quarter. ProShare Advisors LLC grew its position in ImmunityBio by 9.3% during the first quarter. ProShare Advisors LLC now owns 70,613 shares of the company’s stock valued at $379,000 after purchasing an additional 6,004 shares in the last quarter. Finally, Bleakley Financial Group LLC purchased a new position in ImmunityBio during the first quarter valued at approximately $58,000. 8.58% of the stock is 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.
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