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 report sent to investors on Monday,Benzinga reports. The firm currently has a $23.00 price target on the stock.

Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group reissued a “buy” rating on shares of ImmunityBio in a research note on Monday, February 23rd. Jefferies Financial Group raised their price target on ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. HC Wainwright boosted their price objective on shares of ImmunityBio from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, February 23rd. BTIG Research upped their price objective on shares of ImmunityBio from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Finally, Piper Sandler restated an “overweight” rating and issued a $12.00 target price (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ImmunityBio has a consensus rating of “Moderate Buy” and an average price target of $13.60.

ImmunityBio Price Performance

NASDAQ IBRX opened at $8.45 on Monday. ImmunityBio has a 1 year low of $1.83 and a 1 year high of $12.43. The stock has a market capitalization of $8.69 billion, a PE ratio of -22.24 and a beta of -0.04. The business’s 50-day moving average is $6.12 and its 200 day moving average is $3.67.

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

Insider Buying and Selling

In other ImmunityBio news, Director Christobel Selecky sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $10.00, for a total value of $250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barry J. Simon sold 75,000 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $12.01, for a total transaction of $900,750.00. Following the sale, the director owned 2,850,821 shares in the company, valued at $34,238,360.21. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 the company. Slow Capital Inc. bought a new stake in ImmunityBio during the third quarter valued at about $25,000. Truist Financial Corp bought a new position in shares of ImmunityBio in the third quarter worth about $27,000. Swiss Life Asset Management Ltd purchased a new stake in shares of ImmunityBio during the third quarter worth about $27,000. WealthPlan Investment Management LLC purchased a new stake in shares of ImmunityBio during the fourth quarter worth about $27,000. Finally, Diversify Advisory Services LLC bought a new stake in ImmunityBio during the 2nd quarter valued at approximately $27,000. 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.