D. Boral Capital Reiterates “Buy” Rating for ImmunityBio (NASDAQ:IBRX)

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

A number of other brokerages also recently weighed in on IBRX. BTIG Research assumed coverage on shares of ImmunityBio in a research report on Friday, January 10th. They set a “buy” rating and a $6.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $8.00 price objective on shares of ImmunityBio in a research note on Thursday, March 13th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $12.19.

ImmunityBio Stock Performance

Shares of IBRX stock opened at $3.01 on Monday. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of -3.27 and a beta of 0.82. ImmunityBio has a one year low of $2.28 and a one year high of $10.53. The company’s 50-day moving average is $3.13 and its 200 day moving average is $3.60.

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 the consensus estimate of ($0.26) by $0.11. The firm had revenue of $7.55 million for the quarter, compared to the consensus estimate of $8.74 million. As a group, research analysts predict that ImmunityBio will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ImmunityBio

Several institutional investors and hedge funds have recently modified their holdings of IBRX. Swiss National Bank boosted its position in shares of ImmunityBio by 1.5% during the 4th quarter. Swiss National Bank now owns 274,000 shares of the company’s stock valued at $701,000 after acquiring an additional 4,000 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of ImmunityBio by 7.7% in the 4th quarter. ProShare Advisors LLC now owns 73,773 shares of the company’s stock worth $189,000 after acquiring an additional 5,261 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of ImmunityBio by 20.4% during the fourth quarter. Teacher Retirement System of Texas now owns 41,742 shares of the company’s stock valued at $107,000 after buying an additional 7,067 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in ImmunityBio by 29.2% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 37,006 shares of the company’s stock valued at $95,000 after acquiring an additional 8,359 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in shares of ImmunityBio by 40.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 28,955 shares of the company’s stock valued at $74,000 after purchasing an additional 8,380 shares during the period. Institutional investors 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.