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

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reaffirmed by equities research analysts at D. Boral Capital in a report released on Thursday,Benzinga reports. They currently have a $24.00 price objective on the stock.

IBRX has been the topic of a number of other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of ImmunityBio in a report on Monday. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of ImmunityBio in a research note on Wednesday, September 10th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.75.

ImmunityBio Stock Up 3.6%

IBRX opened at $2.30 on Thursday. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of -5.61 and a beta of 0.10. The firm has a 50-day moving average price of $2.30 and a 200-day moving average price of $2.53. ImmunityBio has a twelve month low of $1.83 and a twelve month high of $4.27.

ImmunityBio (NASDAQ:IBRX) last posted its earnings results on Wednesday, November 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.03. The company had revenue of $32.06 million for the quarter, compared to analysts’ expectations of $31.88 million. On average, sell-side analysts expect that ImmunityBio will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ImmunityBio

A number of institutional investors and hedge funds have recently made changes to their positions in IBRX. Swiss Life Asset Management Ltd bought a new stake in ImmunityBio during the third quarter valued at about $27,000. CIBC Bancorp USA Inc. bought a new stake in shares of ImmunityBio during the third quarter valued at approximately $60,000. Alpine Global Management LLC bought a new stake in ImmunityBio in the 3rd quarter valued at $56,000. Heights Capital Management Inc. purchased a new stake in shares of ImmunityBio in the third quarter worth about $16,152,000. Finally, Woodline Partners LP raised its holdings in shares of ImmunityBio by 53.7% during the 3rd quarter. Woodline Partners LP now owns 5,297,725 shares of the company’s stock worth $13,032,000 after acquiring an additional 1,851,854 shares in the last quarter. Hedge funds and other institutional investors own 8.58% of the company’s stock.

ImmunityBio Company Profile

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.