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

D. Boral Capital reissued their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a research note published on Monday,Benzinga reports. The firm currently has a $23.00 price target on the stock.

IBRX has been the subject of several other reports. Piper Sandler restated an “overweight” rating and set a $12.00 target price (up from $7.00) on shares of ImmunityBio in a research report on Wednesday, March 4th. Jefferies Financial Group increased their price target on shares of ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. The Goldman Sachs Group reiterated a “buy” rating on shares of ImmunityBio in a research note on Monday, February 23rd. BTIG Research started coverage on shares of ImmunityBio in a research report on Thursday, March 12th. They set a “buy” rating and a $13.00 price objective for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ImmunityBio in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, ImmunityBio currently has a consensus rating of “Moderate Buy” and an average target price of $14.40.

ImmunityBio Stock Performance

IBRX stock opened at $9.40 on Monday. The company has a market cap of $9.66 billion, a price-to-earnings ratio of -24.74 and a beta of -0.04. The business’s 50-day moving average is $7.38 and its two-hundred day moving average is $4.10. ImmunityBio has a fifty-two week low of $1.83 and a fifty-two week high of $12.43.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings results on Monday, March 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $38.29 million for the quarter. Equities analysts predict that ImmunityBio will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Christobel Selecky sold 25,000 shares of the stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $10.00, for a total value of $250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Barry J. Simon sold 75,000 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $12.01, for a total transaction of $900,750.00. Following the completion of the sale, the director directly owned 2,850,821 shares of the company’s stock, valued at approximately $34,238,360.21. This trade represents a 2.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 501,967 shares of company stock worth $4,466,412. 69.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of IBRX. Mariner LLC raised its holdings in ImmunityBio by 10.5% during the fourth quarter. Mariner LLC now owns 17,814 shares of the company’s stock valued at $35,000 after acquiring an additional 1,689 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of ImmunityBio by 6.9% in the fourth quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company’s stock worth $59,000 after acquiring an additional 1,918 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of ImmunityBio by 8.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company’s stock worth $57,000 after purchasing an additional 2,271 shares in the last quarter. Mutual Advisors LLC grew its position in shares of ImmunityBio by 9.0% during the fourth quarter. Mutual Advisors LLC now owns 30,200 shares of the company’s stock worth $60,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in ImmunityBio by 4.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 75,776 shares of the company’s stock valued at $150,000 after purchasing an additional 3,280 shares during the period. Institutional investors own 8.58% of the company’s stock.

ImmunityBio Company Profile

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.