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

D. Boral Capital reissued their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a report issued on Monday morning,Benzinga reports. D. Boral Capital currently has a $30.00 price target on the stock.

Several other brokerages also recently issued reports on IBRX. BTIG Research began coverage on ImmunityBio in a research report on Friday, January 10th. They set a “buy” rating and a $6.00 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of ImmunityBio in a report on Thursday, March 13th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $12.19.

ImmunityBio Price Performance

NASDAQ IBRX opened at $3.05 on Monday. The business has a 50 day moving average price of $3.12 and a 200 day moving average price of $3.59. The company has a market capitalization of $2.60 billion, a P/E ratio of -3.32 and a beta of 0.82. ImmunityBio has a 1-year low of $2.28 and a 1-year high of $10.53.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.11. The firm had revenue of $7.55 million during the quarter, compared to analysts’ expectations of $8.74 million. On average, research analysts expect that ImmunityBio will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Stephens Inc. AR acquired a new position in shares of ImmunityBio in the 4th quarter valued at about $26,000. Captrust Financial Advisors acquired a new position in ImmunityBio during the 3rd quarter worth approximately $41,000. Cibc World Markets Corp purchased a new position in ImmunityBio in the 4th quarter worth approximately $35,000. Virtu Financial LLC acquired a new stake in ImmunityBio in the third quarter valued at approximately $51,000. Finally, Maia Wealth LLC purchased a new stake in shares of ImmunityBio during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 8.58% of the company’s stock.

About ImmunityBio

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.