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

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $8.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 209.48% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. D. Boral Capital reiterated a “buy” rating and issued a $30.00 price target on shares of ImmunityBio in a research report on Wednesday, April 23rd. BTIG Research assumed coverage on shares of ImmunityBio in a research note on Friday, January 10th. They issued a “buy” rating and a $6.00 price objective for the company. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $12.19.

ImmunityBio Stock Down 1.0 %

NASDAQ IBRX traded down $0.03 on Monday, hitting $2.59. The stock had a trading volume of 2,396,783 shares, compared to its average volume of 5,523,799. The company’s 50-day moving average is $2.87 and its two-hundred day moving average is $3.47. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -2.81 and a beta of 0.51. ImmunityBio has a one year low of $2.28 and a one year high of $10.53.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings results 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 the consensus estimate of $8.74 million. On average, sell-side analysts anticipate that ImmunityBio will post -0.92 earnings per share for the current year.

Hedge Funds Weigh In On ImmunityBio

A number of hedge funds have recently modified their holdings of IBRX. Sequoia Financial Advisors LLC acquired a new position in ImmunityBio in the 1st quarter worth about $60,000. Wealth Effects LLC grew its stake in shares of ImmunityBio by 33.6% in the 1st quarter. Wealth Effects LLC now owns 98,500 shares of the company’s stock valued at $296,000 after buying an additional 24,800 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in ImmunityBio in the first quarter worth approximately $54,000. Courier Capital LLC lifted its stake in ImmunityBio by 33.3% in the first quarter. Courier Capital LLC now owns 40,000 shares of the company’s stock valued at $120,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Thrive Wealth Management LLC bought a new stake in ImmunityBio in the first quarter worth approximately $30,000. 8.58% of the stock is 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.