ImmunityBio (NASDAQ:IBRX) Given Buy Rating at D. Boral Capital

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating restated by investment analysts at D. Boral Capital in a note issued to investors on Tuesday,Benzinga reports. They currently have a $24.00 price objective on the stock.

A number of other research analysts have also weighed in on IBRX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 29th. Jefferies Financial Group boosted their target price on shares of ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ImmunityBio presently has a consensus rating of “Moderate Buy” and an average target price of $11.50.

ImmunityBio Trading Up 8.3%

Shares of ImmunityBio stock traded up $0.22 on Tuesday, reaching $2.81. 28,412,144 shares of the stock were exchanged, compared to its average volume of 13,016,990. The firm has a market capitalization of $2.76 billion, a PE ratio of -6.87 and a beta of 0.03. ImmunityBio has a 1-year low of $1.83 and a 1-year high of $4.27. The business has a fifty day moving average price of $2.15 and a two-hundred day moving average price of $2.41.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. The business had revenue of $32.06 million during the quarter, compared to analysts’ expectations of $31.88 million. Research analysts expect that ImmunityBio will post -0.92 EPS for the current year.

Institutional Investors Weigh In On ImmunityBio

Several hedge funds have recently modified their holdings of the company. Armistice Capital LLC acquired a new stake in shares of ImmunityBio during the 2nd quarter worth $20,497,000. Heights Capital Management Inc. purchased a new stake in ImmunityBio during the third quarter valued at about $16,152,000. Vanguard Group Inc. increased its stake in ImmunityBio by 26.8% during the third quarter. Vanguard Group Inc. now owns 27,655,205 shares of the company’s stock worth $68,032,000 after acquiring an additional 5,837,898 shares during the last quarter. AlphaCore Capital LLC purchased a new position in shares of ImmunityBio in the 2nd quarter worth about $7,854,000. Finally, Woodline Partners LP raised its holdings in shares of ImmunityBio by 53.7% in the 3rd quarter. Woodline Partners LP now owns 5,297,725 shares of the company’s stock worth $13,032,000 after purchasing an additional 1,851,854 shares during the period. 8.58% of the stock is owned by institutional investors and hedge funds.

About ImmunityBio

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.