ImmunityBio (NASDAQ:IBRX) Earns Buy Rating from Analysts at BTIG Research

BTIG Research began coverage on shares of ImmunityBio (NASDAQ:IBRX) in a report released on Friday morning, Marketbeat reports. The firm issued a buy rating and a $6.00 price target on the stock.

IBRX has been the topic of several other research reports. EF Hutton Acquisition Co. I raised shares of ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd. D. Boral Capital reaffirmed a “buy” rating and set a $30.00 price objective on shares of ImmunityBio in a research note on Monday, January 6th.

ImmunityBio Price Performance

Shares of IBRX stock opened at $2.42 on Friday. The stock’s fifty day simple moving average is $3.96 and its 200 day simple moving average is $4.33. ImmunityBio has a one year low of $2.38 and a one year high of $10.53. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -2.63 and a beta of 0.86.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. State Street Corp raised its position in shares of ImmunityBio by 10.1% during the third quarter. State Street Corp now owns 8,654,460 shares of the company’s stock worth $32,195,000 after acquiring an additional 790,408 shares during the last quarter. Barclays PLC raised its holdings in ImmunityBio by 127.4% during the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock worth $1,344,000 after purchasing an additional 202,248 shares during the last quarter. Bank of New York Mellon Corp lifted its position in ImmunityBio by 37.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock valued at $3,928,000 after purchasing an additional 170,742 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in shares of ImmunityBio in the 2nd quarter valued at about $515,000. Finally, GSA Capital Partners LLP raised its stake in shares of ImmunityBio by 290.3% during the third quarter. GSA Capital Partners LLP now owns 107,985 shares of the company’s stock worth $402,000 after buying an additional 80,318 shares during the last quarter. 8.58% of the stock is owned by institutional investors.

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.