ImmunityBio’s (IBRX) “Buy” Rating Reiterated at HC Wainwright

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $8.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 250.11% from the stock’s previous close.

Separately, D. Boral Capital reissued a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a research report on Monday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $12.19.

ImmunityBio Stock Up 10.4%

Shares of ImmunityBio stock traded up $0.22 during trading on Monday, reaching $2.29. The company’s stock had a trading volume of 6,857,685 shares, compared to its average volume of 5,376,953. ImmunityBio has a 52-week low of $1.83 and a 52-week high of $9.16. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -2.47 and a beta of 0.33. The firm’s 50-day moving average is $2.68 and its two-hundred day moving average is $3.38.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03). On average, equities research analysts anticipate that ImmunityBio will post -0.92 EPS for the current year.

Institutional Investors Weigh In On ImmunityBio

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN increased its stake in shares of ImmunityBio by 30.4% in the 4th quarter. Wells Fargo & Company MN now owns 138,605 shares of the company’s stock worth $355,000 after acquiring an additional 32,334 shares in the last quarter. Altium Capital Management LLC bought a new position in shares of ImmunityBio in the fourth quarter worth approximately $2,714,000. Vanguard Group Inc. boosted its position in shares of ImmunityBio by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock worth $44,360,000 after purchasing an additional 425,713 shares during the period. Handelsbanken Fonder AB raised its stake in ImmunityBio by 71.2% during the fourth quarter. Handelsbanken Fonder AB now owns 92,300 shares of the company’s stock valued at $236,000 after purchasing an additional 38,400 shares in the last quarter. Finally, Barclays PLC increased its position in ImmunityBio by 9.8% during the fourth quarter. Barclays PLC now owns 396,484 shares of the company’s stock valued at $1,015,000 after acquiring an additional 35,448 shares during the last quarter. 8.58% of the stock is owned by hedge funds and other institutional investors.

ImmunityBio Company Profile

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.