ImmunityBio’s (IBRX) “Buy” Rating Reiterated at HC Wainwright

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $15.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 107.18% from the company’s current price.

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

ImmunityBio Stock Performance

IBRX opened at $7.24 on Tuesday. The company has a fifty day moving average price of $7.66 and a two-hundred day moving average price of $5.84. ImmunityBio has a 52 week low of $1.95 and a 52 week high of $12.43. The firm has a market capitalization of $7.58 billion, a PE ratio of -8.52 and a beta of 0.03.

ImmunityBio (NASDAQ:IBRX) last released its 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 analysts forecast that ImmunityBio will post -0.31 EPS for the current year.

Hedge Funds Weigh In On ImmunityBio

Large investors have recently added to or reduced their stakes in the company. Truist Financial Corp acquired a new position in shares of ImmunityBio during the 3rd quarter worth about $27,000. Swiss Life Asset Management Ltd acquired a new position in shares of ImmunityBio during the 3rd quarter worth about $27,000. WealthPlan Investment Management LLC acquired a new position in shares of ImmunityBio during the 4th quarter worth about $27,000. Diversify Advisory Services LLC acquired a new position in shares of ImmunityBio during the 2nd quarter worth about $27,000. Finally, Kovack Advisors Inc. acquired a new position in shares of ImmunityBio during the 4th quarter worth about $27,000. Institutional investors 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.