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

HC Wainwright restated their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a research note released on Wednesday morning,Benzinga reports. They currently have a $8.00 target price on the stock.

Several other research analysts also recently commented on IBRX. D. Boral Capital reaffirmed a “buy” rating and issued a $30.00 price objective on shares of ImmunityBio in a research note on Tuesday. BTIG Research began coverage on shares of ImmunityBio in a report on Friday, January 10th. They set a “buy” rating and a $6.00 price target on the stock. One research 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $12.19.

ImmunityBio Trading Down 10.8 %

Shares of IBRX stock opened at $2.48 on Wednesday. The stock has a market capitalization of $2.12 billion, a P/E ratio of -2.70 and a beta of 0.51. The firm’s 50 day moving average is $2.98 and its 200 day moving average is $3.51. ImmunityBio has a 12-month low of $2.28 and a 12-month high of $10.53.

ImmunityBio (NASDAQ:IBRX) last posted its earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.11. The firm had revenue of $7.55 million during the quarter, compared to the consensus estimate of $8.74 million. As a group, equities analysts predict that ImmunityBio will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On ImmunityBio

Large investors have recently made changes to their positions in the company. HighTower Advisors LLC bought a new position in ImmunityBio in the 3rd quarter valued at $136,000. State Street Corp grew its holdings in shares of ImmunityBio by 10.1% in the third quarter. State Street Corp now owns 8,654,460 shares of the company’s stock worth $32,195,000 after purchasing an additional 790,408 shares during the last quarter. Barclays PLC increased its stake in ImmunityBio by 127.4% in the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock worth $1,344,000 after buying an additional 202,248 shares during the period. Virtu Financial LLC bought a new stake in ImmunityBio during the 3rd quarter valued at about $51,000. Finally, Mutual Advisors LLC bought a new position in ImmunityBio in the 4th quarter worth about $41,000. 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.