ImmunityBio (NASDAQ:IBRX) Earns Buy Rating from D. Boral Capital

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reissued by research analysts at D. Boral Capital in a report released on Monday,Benzinga reports. They presently have a $30.00 price objective on the stock.

IBRX has been the subject of several other reports. HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of ImmunityBio in a research report on Thursday, March 13th. BTIG Research started coverage on ImmunityBio in a research note on Friday, January 10th. They set a “buy” rating and a $6.00 target price for the company. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $12.19.

ImmunityBio Stock Down 1.7 %

Shares of ImmunityBio stock opened at $2.96 on Monday. ImmunityBio has a 52-week low of $2.28 and a 52-week high of $10.53. The company has a market capitalization of $2.53 billion, a P/E ratio of -3.22 and a beta of 0.82. The company has a 50 day moving average of $3.12 and a 200 day moving average of $3.59.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.11. The firm had revenue of $7.55 million for the quarter, compared to analysts’ expectations of $8.74 million. As a group, research analysts anticipate that ImmunityBio will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Woodline Partners LP boosted its holdings in shares of ImmunityBio by 682.7% in the fourth quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock valued at $8,813,000 after acquiring an additional 3,002,622 shares during the period. Tang Capital Management LLC acquired a new position in ImmunityBio in the fourth quarter valued at $7,204,000. Altium Capital Management LLC purchased a new stake in shares of ImmunityBio in the fourth quarter valued at about $2,714,000. State Street Corp boosted its stake in shares of ImmunityBio by 10.1% during the third quarter. State Street Corp now owns 8,654,460 shares of the company’s stock worth $32,195,000 after buying an additional 790,408 shares during the period. Finally, Ghisallo Capital Management LLC purchased a new position in shares of ImmunityBio during the fourth quarter worth about $1,280,000. Hedge funds and other 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.