ImmunityBio (NASDAQ:IBRX) Coverage Initiated by Analysts at BTIG Research

BTIG Research assumed coverage on shares of ImmunityBio (NASDAQ:IBRX) in a research report released on Friday, Marketbeat.com reports. The brokerage issued a buy rating and a $6.00 price target on the stock.

Other equities analysts also recently issued reports about the stock. D. Boral Capital restated a “buy” rating and issued a $30.00 target price on shares of ImmunityBio in a research note on Monday, January 6th. EF Hutton Acquisition Co. I raised ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd.

ImmunityBio Trading Down 5.5 %

Shares of IBRX opened at $2.42 on Friday. The firm has a market capitalization of $1.69 billion, a P/E ratio of -2.63 and a beta of 0.86. ImmunityBio has a 12-month low of $2.38 and a 12-month high of $10.53. The firm has a fifty day moving average price of $3.96 and a 200-day moving average price of $4.37.

Hedge Funds Weigh In On ImmunityBio

A number of hedge funds and other institutional investors have recently modified their holdings of IBRX. State Street Corp lifted its holdings in ImmunityBio by 10.1% during the third quarter. State Street Corp now owns 8,654,460 shares of the company’s stock worth $32,195,000 after buying an additional 790,408 shares during the period. Barclays PLC boosted its position in ImmunityBio by 127.4% during the third quarter. Barclays PLC now owns 361,036 shares of the company’s stock valued at $1,344,000 after purchasing an additional 202,248 shares in the last quarter. HighTower Advisors LLC bought a new position in ImmunityBio in the third quarter worth about $136,000. Bank of New York Mellon Corp boosted its holdings in shares of ImmunityBio by 37.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock valued at $3,928,000 after buying an additional 170,742 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of ImmunityBio by 22.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company’s stock worth $99,000 after buying an additional 4,545 shares during the last quarter. 8.58% of the stock is currently 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.