D. Boral Capital Reaffirms “Buy” Rating for ImmunityBio (NASDAQ:IBRX)

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reaffirmed by analysts at D. Boral Capital in a note issued to investors on Thursday,Benzinga reports. They currently have a $30.00 price target on the stock. D. Boral Capital’s target price suggests a potential upside of 479.15% from the stock’s current price.

A number of other research firms have also recently weighed in on IBRX. EF Hutton Acquisition Co. I raised shares of ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd. Piper Sandler dropped their target price on ImmunityBio from $6.00 to $4.75 and set a “neutral” rating for the company in a report on Monday, August 19th.

ImmunityBio Price Performance

Shares of ImmunityBio stock opened at $5.18 on Thursday. ImmunityBio has a 52-week low of $3.10 and a 52-week high of $10.53. The firm has a market capitalization of $3.61 billion, a PE ratio of -5.54 and a beta of 0.99. The company’s fifty day moving average price is $4.27 and its two-hundred day moving average price is $5.15.

Institutional Investors Weigh In On ImmunityBio

A number of hedge funds have recently made changes to their positions in IBRX. Vanguard Group Inc. grew its stake in ImmunityBio by 1.6% during the first quarter. Vanguard Group Inc. now owns 13,539,590 shares of the company’s stock worth $72,708,000 after buying an additional 211,065 shares during the last quarter. Axxcess Wealth Management LLC acquired a new position in shares of ImmunityBio in the 1st quarter worth approximately $85,000. Lazard Asset Management LLC boosted its holdings in shares of ImmunityBio by 102.6% in the 1st quarter. Lazard Asset Management LLC now owns 13,019 shares of the company’s stock worth $68,000 after acquiring an additional 6,593 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in ImmunityBio by 3.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 123,879 shares of the company’s stock worth $667,000 after acquiring an additional 4,533 shares during the last quarter. Finally, Tidal Investments LLC acquired a new stake in ImmunityBio during the 1st quarter valued at $499,000. 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.