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

HC Wainwright reiterated their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a $8.00 price objective on the stock.

Several other analysts have also issued reports on IBRX. D. Boral Capital restated a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a research report on Tuesday. Piper Sandler upgraded shares of ImmunityBio from a “neutral” rating to an “overweight” rating and upped their price target for the company from $4.25 to $5.00 in a research report on Tuesday, May 20th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ImmunityBio currently has a consensus rating of “Buy” and an average price target of $12.25.

ImmunityBio Stock Up 8.6%

IBRX opened at $3.15 on Wednesday. The stock has a market cap of $2.78 billion, a PE ratio of -3.42 and a beta of 0.14. ImmunityBio has a 52 week low of $1.83 and a 52 week high of $7.63. The business’s fifty day simple moving average is $2.59 and its 200 day simple moving average is $3.04.

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

Institutional Trading of ImmunityBio

Several large investors have recently modified their holdings of IBRX. Stephens Inc. AR bought a new stake in shares of ImmunityBio in the fourth quarter worth about $26,000. New York State Common Retirement Fund lifted its holdings in ImmunityBio by 62.8% in the fourth quarter. New York State Common Retirement Fund now owns 32,418 shares of the company’s stock worth $83,000 after buying an additional 12,500 shares during the period. Handelsbanken Fonder AB lifted its holdings in ImmunityBio by 71.2% in the fourth quarter. Handelsbanken Fonder AB now owns 92,300 shares of the company’s stock worth $236,000 after buying an additional 38,400 shares during the period. Crestwood Advisors Group LLC purchased a new stake in ImmunityBio in the fourth quarter worth about $41,000. Finally, Maia Wealth LLC purchased a new stake in ImmunityBio in the fourth quarter worth about $37,000. 8.58% of the stock is owned by institutional investors.

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.