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

D. Boral Capital restated their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a research note released on Tuesday morning,Benzinga reports. They currently have a $23.00 target price on the stock.

IBRX has been the topic of several other research reports. Piper Sandler reiterated an “overweight” rating and set a $12.00 price target (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. Jefferies Financial Group raised their target price on ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 12th. HC Wainwright boosted their price target on ImmunityBio from $10.00 to $15.00 and gave the company a “buy” rating in a report on Monday, February 23rd. BTIG Research started coverage on ImmunityBio in a research report on Thursday, March 12th. They issued a “buy” rating and a $13.00 price target for the company. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of ImmunityBio in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.40.

ImmunityBio Price Performance

IBRX opened at $8.21 on Tuesday. The stock has a market capitalization of $8.44 billion, a price-to-earnings ratio of -21.61 and a beta of -0.03. The firm has a 50 day moving average price of $6.86 and a 200-day moving average price of $3.92. ImmunityBio has a twelve month low of $1.83 and a twelve month high of $12.43.

ImmunityBio (NASDAQ:IBRX) last issued its earnings results on Monday, March 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $38.29 million during the quarter. As a group, analysts expect that ImmunityBio will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Christobel Selecky sold 50,000 shares of ImmunityBio stock in a transaction on Friday, January 16th. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Barry J. Simon sold 165,000 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $10.25, for a total transaction of $1,691,250.00. Following the completion of the transaction, the director directly owned 2,925,821 shares of the company’s stock, valued at $29,989,665.25. This represents a 5.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 501,967 shares of company stock valued at $4,466,412. Company insiders own 69.48% of the company’s stock.

Hedge Funds Weigh In On ImmunityBio

Several large investors have recently made changes to their positions in the business. Walser Wealth Management Company A Ltd Liability Co bought a new position in shares of ImmunityBio in the fourth quarter worth about $59,000. Invesco Ltd. lifted its holdings in ImmunityBio by 14.6% in the 4th quarter. Invesco Ltd. now owns 182,836 shares of the company’s stock worth $362,000 after purchasing an additional 23,353 shares in the last quarter. Corient Private Wealth LLC boosted its stake in ImmunityBio by 69.7% in the 4th quarter. Corient Private Wealth LLC now owns 333,149 shares of the company’s stock worth $660,000 after purchasing an additional 136,858 shares during the period. EP Wealth Advisors LLC bought a new position in ImmunityBio in the 4th quarter worth approximately $35,000. Finally, Empowered Funds LLC purchased a new stake in ImmunityBio during the 4th quarter valued at approximately $28,000. 8.58% of the stock is currently owned by hedge funds and other institutional investors.

About ImmunityBio

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.