Weiss Ratings Reiterates “Sell (E+)” Rating for ImmunityBio (NASDAQ:IBRX)

ImmunityBio (NASDAQ:IBRX)‘s stock had its “sell (e+)” rating reaffirmed by analysts at Weiss Ratings in a research note issued on Tuesday,Weiss Ratings reports.

Several other analysts have also recently weighed in on IBRX. D. Boral Capital reissued a “buy” rating and set a $24.00 price target on shares of ImmunityBio in a report on Monday, September 8th. HC Wainwright reissued a “buy” rating and set a $8.00 price target on shares of ImmunityBio in a report on Wednesday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $10.75.

ImmunityBio Stock Up 2.8%

IBRX opened at $2.58 on Tuesday. ImmunityBio has a 12-month low of $1.83 and a 12-month high of $7.48. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of -5.37 and a beta of 0.27. The business has a 50 day moving average of $2.50 and a 200-day moving average of $2.62.

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

Hedge Funds Weigh In On ImmunityBio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBRX. Armistice Capital LLC acquired a new position in ImmunityBio in the 2nd quarter valued at $20,497,000. Vanguard Group Inc. raised its holdings in ImmunityBio by 17.4% in the 1st quarter. Vanguard Group Inc. now owns 20,344,554 shares of the company’s stock valued at $61,237,000 after acquiring an additional 3,016,325 shares in the last quarter. AlphaCore Capital LLC acquired a new position in ImmunityBio in the 2nd quarter valued at $7,854,000. Citigroup Inc. raised its holdings in ImmunityBio by 605.9% in the 1st quarter. Citigroup Inc. now owns 2,714,662 shares of the company’s stock valued at $8,171,000 after acquiring an additional 2,330,086 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in ImmunityBio by 34.7% in the 2nd quarter. Geode Capital Management LLC now owns 5,777,269 shares of the company’s stock valued at $15,254,000 after acquiring an additional 1,487,849 shares in the last quarter. 8.58% of the stock is owned by institutional investors and hedge funds.

ImmunityBio Company Profile

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.