ImmunityBio (NASDAQ:IBRX) Earns Buy Rating from Analysts at HC Wainwright

HC Wainwright started coverage on shares of ImmunityBio (NASDAQ:IBRX) in a research note published on Thursday, MarketBeat reports. The firm issued a buy rating and a $8.00 target price on the stock.

A number of other research analysts have also recently weighed in on the stock. D. Boral Capital reissued a “buy” rating and set a $30.00 price objective on shares of ImmunityBio in a research note on Friday, February 28th. BTIG Research initiated coverage on shares of ImmunityBio in a research note on Friday, January 10th. They set 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 given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $12.19.

ImmunityBio Stock Up 0.3 %

Shares of NASDAQ:IBRX opened at $3.00 on Thursday. The company has a 50-day moving average price of $3.05 and a 200 day moving average price of $3.71. ImmunityBio has a 52 week low of $2.28 and a 52 week high of $10.53. The company has a market cap of $2.09 billion, a P/E ratio of -3.26 and a beta of 0.82.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.11. The company had revenue of $7.55 million for the quarter, compared to analyst estimates of $8.74 million. Analysts expect that ImmunityBio will post -0.92 EPS for the current year.

Hedge Funds Weigh In On ImmunityBio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in ImmunityBio by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock worth $44,360,000 after buying an additional 425,713 shares in the last quarter. State Street Corp grew its position in shares of ImmunityBio by 10.1% during the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after buying an additional 790,408 shares during the last quarter. Woodline Partners LP grew its position in ImmunityBio by 682.7% in the 4th quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock worth $8,813,000 after purchasing an additional 3,002,622 shares during the last quarter. Tang Capital Management LLC bought a new position in ImmunityBio in the 4th quarter worth about $7,204,000. Finally, Northern Trust Corp grew its position in ImmunityBio by 7.9% in the 4th quarter. Northern Trust Corp now owns 1,323,424 shares of the company’s stock worth $3,388,000 after purchasing an additional 97,348 shares during the last quarter. Institutional investors and hedge funds own 8.58% of the company’s stock.

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.