ImmunityBio (NASDAQ:IBRX) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of ImmunityBio (NASDAQ:IBRX – Get Rating) in a research note issued to investors on Wednesday morning, The Fly reports. The firm issued a buy rating and a $8.00 price objective on the stock. Jefferies Financial Group also issued estimates for ImmunityBio’s Q2 2022 earnings at ($0.25) EPS, Q3 2022 earnings at ($0.26) EPS, Q4 2022 earnings at ($0.11) EPS, FY2022 earnings at ($0.88) EPS, FY2023 earnings at ($0.89) EPS, FY2024 earnings at ($0.92) EPS, FY2025 earnings at ($0.80) EPS and FY2026 earnings at ($0.38) EPS.

Separately, Piper Sandler reduced their price target on ImmunityBio from $20.00 to $10.00 in a research report on Friday, May 27th.

ImmunityBio Trading Up 6.1 %

Shares of NASDAQ:IBRX opened at $4.49 on Wednesday. ImmunityBio has a 1 year low of $2.60 and a 1 year high of $12.34. The stock has a 50-day simple moving average of $3.94 and a 200-day simple moving average of $4.84.

ImmunityBio (NASDAQ:IBRX – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.03 million. On average, equities analysts predict that ImmunityBio will post -0.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ImmunityBio

A number of institutional investors have recently made changes to their positions in IBRX. Point72 Hong Kong Ltd raised its position in shares of ImmunityBio by 2,136.0% in the 1st quarter. Point72 Hong Kong Ltd now owns 6,149 shares of the company’s stock valued at $34,000 after purchasing an additional 5,874 shares in the last quarter. Amalgamated Bank acquired a new position in shares of ImmunityBio in the 1st quarter valued at approximately $48,000. Itau Unibanco Holding S.A. raised its position in shares of ImmunityBio by 95.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 7,943 shares of the company’s stock valued at $51,000 after purchasing an additional 3,878 shares in the last quarter. Sigma Planning Corp acquired a new position in shares of ImmunityBio in the 1st quarter valued at approximately $59,000. Finally, Wealth Effects LLC raised its position in shares of ImmunityBio by 45.5% in the 2nd quarter. Wealth Effects LLC now owns 16,000 shares of the company’s stock valued at $60,000 after purchasing an additional 5,000 shares in the last quarter. 8.67% of the stock is owned by institutional investors and hedge funds.

About ImmunityBio

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ImmunityBio, Inc, a clinical-stage biotechnology company, develops therapies and vaccines to treat cancers and infectious diseases. It offers immunotherapy and cell therapy platforms, including antibody cytokine fusion proteins, synthetic immunomodulators, vaccine technologies, natural killer cells, and adaptive (T cell) immune systems.