ImmunityBio (NASDAQ:IBRX) Given “Buy” Rating at D. Boral Capital

D. Boral Capital reiterated their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a report released on Monday,Benzinga reports. They currently have a $24.00 price target on the stock.

Other equities analysts also recently issued research reports about the company. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of ImmunityBio in a research note on Wednesday, June 4th. Piper Sandler upgraded ImmunityBio from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $4.25 to $5.00 in a research note on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat.com, ImmunityBio has a consensus rating of “Buy” and a consensus target price of $10.75.

ImmunityBio Stock Up 0.4%

Shares of IBRX stock opened at $2.41 on Monday. The firm has a 50 day moving average of $2.56 and a 200-day moving average of $2.68. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -5.02 and a beta of 0.30. ImmunityBio has a 52 week low of $1.83 and a 52 week high of $7.48.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.10). The firm had revenue of $26.43 million for the quarter, compared to analyst estimates of $21.95 million. Analysts anticipate that ImmunityBio will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On ImmunityBio

Several institutional investors and hedge funds have recently bought and sold shares of IBRX. Vanguard Group Inc. lifted its position in ImmunityBio by 17.4% during the first quarter. Vanguard Group Inc. now owns 20,344,554 shares of the company’s stock valued at $61,237,000 after buying an additional 3,016,325 shares during the period. Armistice Capital LLC bought a new position in ImmunityBio in the second quarter valued at about $20,497,000. Geode Capital Management LLC boosted its holdings in shares of ImmunityBio by 34.7% in the second quarter. Geode Capital Management LLC now owns 5,777,269 shares of the company’s stock worth $15,254,000 after buying an additional 1,487,849 shares during the last quarter. Woodline Partners LP increased its position in ImmunityBio by 682.7% in the fourth quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock worth $8,813,000 after buying an additional 3,002,622 shares in the last quarter. Finally, AlphaCore Capital LLC purchased a new stake in shares of ImmunityBio in the second quarter worth $7,854,000. 8.58% of the stock is currently owned by 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.