ImmunityBio (NASDAQ:IBRX) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a research note released on Monday,Benzinga reports. The brokerage currently has a $8.00 price objective on the stock.

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

ImmunityBio Price Performance

IBRX opened at $2.49 on Monday. ImmunityBio has a one year low of $1.83 and a one year high of $8.69. The company’s 50 day simple moving average is $2.65 and its 200-day simple moving average is $3.34. The stock has a market capitalization of $2.20 billion, a P/E ratio of -2.71 and a beta of 0.33.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The company had revenue of $16.52 million for the quarter, compared to analyst estimates of $17.50 million. As a group, analysts anticipate that ImmunityBio will post -0.92 EPS for the current year.

Institutional Investors Weigh In On ImmunityBio

Hedge funds have recently bought and sold shares of the company. Slow Capital Inc. acquired a new stake in ImmunityBio in the first quarter worth $30,000. Compound Planning Inc. acquired a new stake in ImmunityBio in the first quarter worth $30,000. Thrive Wealth Management LLC acquired a new stake in ImmunityBio in the first quarter worth $30,000. Stephens Inc. AR acquired a new stake in ImmunityBio in the fourth quarter worth $26,000. Finally, Xponance Inc. acquired a new stake in ImmunityBio in the first quarter worth $33,000. 8.58% of the stock is currently owned by institutional investors and hedge funds.

About ImmunityBio

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.