ImmunityBio (NASDAQ:IBRX) Given Buy Rating at HC Wainwright

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $8.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 209.48% from the company’s current price.

Several other research analysts also recently commented on the company. D. Boral Capital reaffirmed a “buy” rating and issued a $30.00 price target on shares of ImmunityBio in a research report on Wednesday, April 23rd. BTIG Research assumed coverage on shares of ImmunityBio in a research note on Friday, January 10th. They set a “buy” rating and a $6.00 target price for the company. One equities 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’s stock. Based on data from MarketBeat, ImmunityBio presently has a consensus rating of “Buy” and an average target price of $12.19.

ImmunityBio Price Performance

IBRX traded down $0.03 on Monday, hitting $2.59. The company had a trading volume of 2,396,783 shares, compared to its average volume of 5,523,799. ImmunityBio has a 1-year low of $2.28 and a 1-year high of $10.53. The company’s fifty day moving average price is $2.87 and its 200 day moving average price is $3.47. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -2.81 and a beta of 0.51.

ImmunityBio (NASDAQ:IBRX) last posted its earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) 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 analyst estimates of $8.74 million. On average, sell-side analysts forecast that ImmunityBio will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Woodline Partners LP boosted its position in shares of ImmunityBio by 682.7% during the 4th quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock valued at $8,813,000 after acquiring an additional 3,002,622 shares in the last quarter. Tang Capital Management LLC bought a new stake in shares of ImmunityBio in the 4th quarter valued at approximately $7,204,000. Altium Capital Management LLC bought a new stake in shares of ImmunityBio in the 4th quarter valued at approximately $2,714,000. Ghisallo Capital Management LLC acquired a new position in shares of ImmunityBio in the 4th quarter worth approximately $1,280,000. Finally, Vanguard Group Inc. lifted its position in shares of ImmunityBio by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock worth $44,360,000 after buying an additional 425,713 shares during the period. 8.58% of the stock is currently owned by institutional investors and hedge funds.

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.