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

by · The Markets Daily

D. Boral Capital restated their buy rating on shares of ImmunityBio (NASDAQ:IBRX – Free Report) in a report released on Monday morning,Benzinga reports. D. Boral Capital currently has a $23.00 target price on the stock.

A number of other research firms also recently issued reports on IBRX. Piper Sandler reiterated an “overweight” rating and issued a $12.00 target price (up from $7.00) on shares of ImmunityBio in a research report on Wednesday, March 4th. Jefferies Financial Group upped their price target on shares of ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. The Goldman Sachs Group reiterated a “buy” rating on shares of ImmunityBio in a report on Monday, February 23rd. BTIG Research lifted their price objective on ImmunityBio from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ImmunityBio in a research note on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.60.

Read Our Latest Analysis on ImmunityBio

ImmunityBio Price Performance

Shares of IBRX opened at $8.27 on Monday. The company has a market capitalization of $8.50 billion, a price-to-earnings ratio of -21.76 and a beta of -0.03. ImmunityBio has a fifty-two week low of $1.83 and a fifty-two week high of $12.43. The business’s 50-day moving average is $6.37 and its 200-day moving average is $3.75.

ImmunityBio (NASDAQ:IBRX – Get Free Report) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $38.29 million for the quarter. Equities research analysts expect that ImmunityBio will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at ImmunityBio

In related news, Director Christobel Selecky sold 50,000 shares of ImmunityBio stock in a transaction on Friday, January 16th. The shares were sold at an average price of $5.00, for a total value of $250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry J. Simon sold 165,000 shares of the company’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $10.25, for a total transaction of $1,691,250.00. Following the completion of the sale, the director owned 2,925,821 shares of the company’s stock, valued at $29,989,665.25. This represents a 5.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 501,967 shares of company stock worth $4,466,412. 69.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ImmunityBio

Institutional investors have recently bought and sold shares of the stock. Slow Capital Inc. bought a new stake in shares of ImmunityBio during the 3rd quarter worth about $25,000. Truist Financial Corp bought a new position in shares of ImmunityBio in the 3rd quarter valued at approximately $27,000. Swiss Life Asset Management Ltd bought a new position in shares of ImmunityBio in the 3rd quarter valued at approximately $27,000. WealthPlan Investment Management LLC acquired a new stake in ImmunityBio in the 4th quarter worth approximately $27,000. Finally, Diversify Advisory Services LLC acquired a new stake in ImmunityBio in the 2nd quarter worth approximately $27,000. 8.58% of the stock is currently owned by institutional investors.

About ImmunityBio

(Get Free Report)

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.

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