ImmunityBio’s (IBRX) Buy Rating Reiterated at D. Boral Capital

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reaffirmed by research analysts at D. Boral Capital in a report released on Monday,Benzinga reports. They presently have a $23.00 target price on the stock. D. Boral Capital’s price objective points to a potential upside of 173.97% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. HC Wainwright lifted their target price on shares of ImmunityBio from $10.00 to $15.00 and gave the company a “buy” rating in a report on Monday, February 23rd. The Goldman Sachs Group reissued a “buy” rating on shares of ImmunityBio in a research note on Monday, February 23rd. BTIG Research lifted their price target on ImmunityBio from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Piper Sandler restated an “overweight” rating and issued a $12.00 price objective (up from $7.00) on shares of ImmunityBio in a research report on Wednesday, March 4th. Finally, Jefferies Financial Group lifted their price target on shares of ImmunityBio from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ImmunityBio has a consensus rating of “Moderate Buy” and an average price target of $13.60.

ImmunityBio Price Performance

NASDAQ:IBRX traded down $0.28 during trading hours on Monday, hitting $8.40. 21,467,044 shares of the company were exchanged, compared to its average volume of 43,183,582. ImmunityBio has a 52-week low of $1.83 and a 52-week high of $12.43. The stock has a market capitalization of $8.63 billion, a price-to-earnings ratio of -22.04 and a beta of -0.03. The company’s 50 day moving average price is $6.00 and its 200-day moving average price is $3.63.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $38.29 million for the quarter. On average, equities analysts predict that ImmunityBio will post -0.92 earnings per share for the current year.

Insider Buying and Selling at ImmunityBio

In related news, Director Barry J. Simon sold 165,000 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $10.25, for a total transaction of $1,691,250.00. Following the completion of the sale, the director directly owned 2,925,821 shares of the company’s stock, valued at approximately $29,989,665.25. This trade represents a 5.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Christobel Selecky sold 50,000 shares of ImmunityBio stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 501,967 shares of company stock worth $4,466,412. Corporate insiders own 69.48% of the company’s stock.

Institutional Investors Weigh In On ImmunityBio

A number of hedge funds have recently bought and sold shares of IBRX. Slow Capital Inc. acquired a new stake in ImmunityBio in the third quarter valued at approximately $25,000. Truist Financial Corp acquired a new stake in shares of ImmunityBio in the 3rd quarter valued at $27,000. Swiss Life Asset Management Ltd purchased a new stake in shares of ImmunityBio during the 3rd quarter worth $27,000. WealthPlan Investment Management LLC acquired a new position in shares of ImmunityBio during the fourth quarter worth $27,000. Finally, Diversify Advisory Services LLC purchased a new position in ImmunityBio in the second quarter valued at $27,000. Institutional investors and hedge funds own 8.58% of the company’s stock.

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.