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

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $15.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 107.18% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group restated a “buy” rating on shares of ImmunityBio in a research note on Monday, February 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a research note on Tuesday, April 14th. D. Boral Capital restated a “buy” rating and set a $23.00 price target on shares of ImmunityBio in a research note on Tuesday, May 5th. BTIG Research restated a “buy” rating and set a $12.00 price target on shares of ImmunityBio in a research note on Thursday, May 21st. Finally, Piper Sandler restated an “overweight” rating and set a $12.00 price target (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.20.

ImmunityBio Stock Down 3.7%

Shares of IBRX opened at $7.24 on Tuesday. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of -8.52 and a beta of 0.03. ImmunityBio has a 12 month low of $1.95 and a 12 month high of $12.43. The company has a 50-day moving average price of $7.66 and a two-hundred day moving average price of $5.84.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.54). The business had revenue of $44.21 million for the quarter, compared to analysts’ expectations of $43.07 million. Equities research analysts expect that ImmunityBio will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On ImmunityBio

A number of large investors have recently bought and sold shares of IBRX. AQR Capital Management LLC grew its position in ImmunityBio by 193.4% during the 1st quarter. AQR Capital Management LLC now owns 44,448 shares of the company’s stock worth $134,000 after acquiring an additional 29,297 shares during the last quarter. Creative Planning raised its position in ImmunityBio by 9.2% in the 2nd quarter. Creative Planning now owns 62,028 shares of the company’s stock worth $164,000 after purchasing an additional 5,231 shares during the last quarter. Cetera Investment Advisers raised its position in ImmunityBio by 56.9% in the 2nd quarter. Cetera Investment Advisers now owns 18,551 shares of the company’s stock worth $49,000 after purchasing an additional 6,731 shares during the last quarter. JPMorgan Chase & Co. raised its position in ImmunityBio by 5.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,071,736 shares of the company’s stock worth $2,829,000 after purchasing an additional 52,782 shares during the last quarter. Finally, Legal & General Group Plc raised its position in ImmunityBio by 11.8% in the 2nd quarter. Legal & General Group Plc now owns 205,478 shares of the company’s stock worth $542,000 after purchasing an additional 21,715 shares during the last quarter. 8.58% of the stock is currently owned by institutional investors.

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.