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

HC Wainwright reissued their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a research note issued to investors on Monday,Benzinga reports. HC Wainwright currently has a $8.00 target price on the stock.

Several other brokerages have also recently commented on IBRX. D. Boral Capital reiterated a “buy” rating and issued a $30.00 target price on shares of ImmunityBio in a report on Wednesday, April 23rd. 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 for the company. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $12.19.

ImmunityBio Price Performance

Shares of IBRX opened at $2.51 on Monday. The firm’s 50 day moving average is $2.80 and its 200-day moving average is $3.45. The stock has a market capitalization of $2.14 billion, a P/E ratio of -2.73 and a beta of 0.51. ImmunityBio has a 12-month low of $2.28 and a 12-month high of $10.01.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.11. The business had revenue of $7.55 million during the quarter, compared to analyst estimates of $8.74 million. As a group, equities research analysts forecast that ImmunityBio will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On ImmunityBio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in ImmunityBio by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock valued at $44,360,000 after acquiring an additional 425,713 shares in the last quarter. Woodline Partners LP raised its position in ImmunityBio by 682.7% during the fourth quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock valued at $8,813,000 after acquiring an additional 3,002,622 shares in the last quarter. Tang Capital Management LLC bought a new position in ImmunityBio during the fourth quarter valued at approximately $7,204,000. Northern Trust Corp raised its position in ImmunityBio by 7.9% during the fourth quarter. Northern Trust Corp now owns 1,323,424 shares of the company’s stock valued at $3,388,000 after acquiring an additional 97,348 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in ImmunityBio by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,276,673 shares of the company’s stock valued at $3,268,000 after acquiring an additional 10,692 shares in the last quarter. Institutional investors own 8.58% of the company’s stock.

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.