Piper Sandler Raises ImmunityBio (NASDAQ:IBRX) Price Target to $6.00

ImmunityBio (NASDAQ:IBRX) had its price objective upped by Piper Sandler from $5.00 to $6.00 in a research report sent to investors on Monday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

ImmunityBio Trading Up 22.3 %

IBRX stock opened at $8.99 on Monday. The business’s fifty day simple moving average is $5.34 and its two-hundred day simple moving average is $4.28. ImmunityBio has a twelve month low of $1.25 and a twelve month high of $10.53.

ImmunityBio (NASDAQ:IBRX) last released its earnings results on Tuesday, March 19th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The business had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.03 million. Analysts forecast that ImmunityBio will post -0.68 EPS for the current year.

Institutional Trading of ImmunityBio

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of ImmunityBio by 42.0% during the third quarter. Vanguard Group Inc. now owns 14,675,687 shares of the company’s stock valued at $24,802,000 after buying an additional 4,342,386 shares during the period. Armistice Capital LLC purchased a new position in shares of ImmunityBio during the third quarter valued at $5,874,000. Rafferty Asset Management LLC purchased a new position in shares of ImmunityBio during the fourth quarter valued at $3,714,000. Blair William & Co. IL increased its stake in shares of ImmunityBio by 200.7% during the third quarter. Blair William & Co. IL now owns 162,462 shares of the company’s stock valued at $275,000 after buying an additional 108,431 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of ImmunityBio by 8.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,142,925 shares of the company’s stock valued at $5,737,000 after buying an additional 92,991 shares during the period. 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 discovering, developing, and commercializing next-generation immuno- and cellular therapies for cancer and infectious diseases in the United States and Europe. The company offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine delivery technologies, and natural killer cell therapies.