ImmunityBio (NASDAQ:IBRX) Receives Buy Rating from D. Boral Capital

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reiterated by stock analysts at D. Boral Capital in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $23.00 target price on the stock. D. Boral Capital’s target price indicates a potential upside of 161.51% from the stock’s current price.

A number of other research firms have also weighed in on IBRX. Piper Sandler reissued an “overweight” rating and issued a $12.00 target price (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. BTIG Research began coverage on ImmunityBio in a report on Thursday, March 12th. They set a “buy” rating and a $13.00 target price on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of ImmunityBio in a research note on Monday, February 23rd. Jefferies Financial Group lifted their price target on shares of ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, ImmunityBio has a consensus rating of “Moderate Buy” and a consensus price target of $14.40.

ImmunityBio Trading Up 7.1%

Shares of ImmunityBio stock opened at $8.80 on Tuesday. The company’s 50-day moving average price is $6.74 and its 200-day moving average price is $3.88. The company has a market cap of $9.04 billion, a price-to-earnings ratio of -23.99 and a beta of -0.04. ImmunityBio has a 12-month low of $1.83 and a 12-month high of $12.43.

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

Insider Buying and Selling at ImmunityBio

In other news, Director Barry J. Simon sold 75,000 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $12.01, for a total transaction of $900,750.00. Following the transaction, the director owned 2,850,821 shares of the company’s stock, valued at approximately $34,238,360.21. This represents a 2.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christobel Selecky sold 25,000 shares of ImmunityBio stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $10.00, for a total value of $250,000.00. The SEC filing for this sale provides additional information. Insiders sold a total of 501,967 shares of company stock valued at $4,466,412 over the last quarter. Company insiders own 69.48% of the company’s stock.

Hedge Funds Weigh In On ImmunityBio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mariner LLC increased its stake in ImmunityBio by 10.5% during the 4th quarter. Mariner LLC now owns 17,814 shares of the company’s stock valued at $35,000 after purchasing an additional 1,689 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of ImmunityBio by 6.9% in the 4th quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company’s stock valued at $59,000 after purchasing an additional 1,918 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in ImmunityBio by 8.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company’s stock worth $57,000 after buying an additional 2,271 shares in the last quarter. Mutual Advisors LLC grew its position in ImmunityBio by 9.0% during the fourth quarter. Mutual Advisors LLC now owns 30,200 shares of the company’s stock valued at $60,000 after buying an additional 2,500 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in ImmunityBio by 4.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 75,776 shares of the company’s stock worth $150,000 after purchasing an additional 3,280 shares during the period. 8.58% of the stock is owned by hedge funds and other institutional investors.

ImmunityBio Company Profile

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.