ImmunityBio (NASDAQ:IBRX) Earns “Buy” Rating from D. Boral Capital

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating restated by equities research analysts at D. Boral Capital in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $24.00 price target on the stock.

IBRX has been the subject of several other research reports. HC Wainwright reiterated a “buy” rating and issued a $8.00 price target on shares of ImmunityBio in a research report on Wednesday, September 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ImmunityBio in a research note on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.75.

ImmunityBio Price Performance

IBRX stock opened at $2.08 on Wednesday. The company has a fifty day moving average price of $2.49 and a 200 day moving average price of $2.59. ImmunityBio has a 12 month low of $1.83 and a 12 month high of $5.88. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -4.33 and a beta of 0.29.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). The business had revenue of $26.43 million during the quarter, compared to analysts’ expectations of $21.95 million. As a group, analysts anticipate that ImmunityBio will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Thrive Wealth Management LLC increased its holdings in shares of ImmunityBio by 49.3% in the 2nd quarter. Thrive Wealth Management LLC now owns 15,041 shares of the company’s stock valued at $40,000 after purchasing an additional 4,964 shares in the last quarter. Courier Capital LLC increased its holdings in shares of ImmunityBio by 12.5% in the 2nd quarter. Courier Capital LLC now owns 45,000 shares of the company’s stock valued at $119,000 after purchasing an additional 5,000 shares in the last quarter. Creative Planning increased its holdings in shares of ImmunityBio by 9.2% in the 2nd quarter. Creative Planning now owns 62,028 shares of the company’s stock valued at $164,000 after purchasing an additional 5,231 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of ImmunityBio by 5.4% in the 1st quarter. XTX Topco Ltd now owns 111,647 shares of the company’s stock valued at $336,000 after purchasing an additional 5,764 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its holdings in shares of ImmunityBio by 37.0% in the 1st quarter. Crestwood Advisors Group LLC now owns 22,200 shares of the company’s stock valued at $67,000 after purchasing an additional 6,000 shares in the last quarter. 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.