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

D. Boral Capital restated their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a $24.00 target price on the stock.

A number of other research analysts have also recently issued reports on the company. BTIG Research lifted their target price on ImmunityBio from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of ImmunityBio in a research note on Monday, December 29th. Piper Sandler upped their price objective on shares of ImmunityBio from $5.00 to $7.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Jefferies Financial Group raised their target price on shares of ImmunityBio from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, HC Wainwright upped their price target on shares of ImmunityBio from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.

ImmunityBio Stock Performance

Shares of IBRX opened at $6.02 on Tuesday. ImmunityBio has a 52-week low of $1.83 and a 52-week high of $8.28. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of -14.68 and a beta of 0.16. The business’s fifty day moving average is $4.10 and its 200-day moving average is $2.99.

Insider Buying and Selling at ImmunityBio

In other news, Director Christobel Selecky sold 25,000 shares of the stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $7.51, for a total value of $187,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barry J. Simon sold 151,967 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $7.20, for a total value of $1,094,162.40. Following the transaction, the director owned 3,091,604 shares of the company’s stock, valued at $22,259,548.80. This trade represents a 4.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 226,967 shares of company stock worth $1,531,912. 69.48% of the stock is currently owned by insiders.

Institutional Trading of ImmunityBio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its holdings in ImmunityBio by 47.6% during the 4th quarter. Cetera Investment Advisers now owns 36,647 shares of the company’s stock worth $73,000 after purchasing an additional 11,813 shares during the last quarter. Kovack Advisors Inc. acquired a new stake in shares of ImmunityBio during the fourth quarter worth $27,000. Price T Rowe Associates Inc. MD increased its position in shares of ImmunityBio by 30.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 158,242 shares of the company’s stock worth $314,000 after buying an additional 37,188 shares during the period. California State Teachers Retirement System lifted its holdings in ImmunityBio by 27.4% in the fourth quarter. California State Teachers Retirement System now owns 317,119 shares of the company’s stock valued at $628,000 after buying an additional 68,157 shares during the period. Finally, Atom Investors LP bought a new stake in ImmunityBio during the fourth quarter valued at $72,000. Institutional investors and hedge funds 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.