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

D. Boral Capital reiterated their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a research report sent to investors on Tuesday morning,Benzinga reports. D. Boral Capital currently has a $23.00 target price on the stock.

A number of other research analysts have also weighed in on IBRX. BTIG Research initiated coverage on shares of ImmunityBio in a research note on Thursday, March 12th. They issued a “buy” rating and a $13.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of ImmunityBio in a report on Monday, December 29th. The Goldman Sachs Group restated a “buy” rating on shares of ImmunityBio in a research report on Monday, February 23rd. Jefferies Financial Group lifted their price target on ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, HC Wainwright boosted their price target on ImmunityBio from $10.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $14.40.

ImmunityBio Stock Performance

Shares of NASDAQ IBRX opened at $8.82 on Tuesday. The firm has a fifty day moving average of $7.12 and a 200 day moving average of $3.99. The firm has a market cap of $9.07 billion, a PE ratio of -23.21 and a beta of -0.03. ImmunityBio has a one year low of $1.83 and a one year high of $12.43.

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

Insider Activity

In other news, Director Christobel Selecky sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $10.00, for a total transaction of $250,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barry J. Simon sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $12.01, for a total value of $900,750.00. Following the completion of the sale, the director owned 2,850,821 shares of the company’s stock, valued at $34,238,360.21. This trade represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 501,967 shares of company stock valued at $4,466,412. 69.48% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ImmunityBio

A number of institutional investors have recently added to or reduced their stakes in IBRX. Slow Capital Inc. acquired a new position in ImmunityBio during the third quarter worth $25,000. Truist Financial Corp acquired a new stake in shares of ImmunityBio in the 3rd quarter worth $27,000. Swiss Life Asset Management Ltd purchased a new position in shares of ImmunityBio during the 3rd quarter worth $27,000. WealthPlan Investment Management LLC purchased a new position in shares of ImmunityBio during the 4th quarter worth $27,000. Finally, Diversify Advisory Services LLC acquired a new position in shares of ImmunityBio during the 2nd quarter valued at about $27,000. Hedge funds and other institutional investors own 8.58% of the company’s stock.

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.