HC Wainwright Predicts Increased Earnings for ImmunityBio

ImmunityBio, Inc. (NASDAQ:IBRX) – Equities research analysts at HC Wainwright raised their FY2029 earnings per share (EPS) estimates for shares of ImmunityBio in a research note issued on Wednesday, November 5th. HC Wainwright analyst A. Maldonado now expects that the company will post earnings of $0.41 per share for the year, up from their prior estimate of $0.34. HC Wainwright currently has a “Buy” rating and a $8.00 price target on the stock. The consensus estimate for ImmunityBio’s current full-year earnings is ($0.92) per share.

ImmunityBio (NASDAQ:IBRX) last issued its earnings results on Tuesday, August 5th. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). The company had revenue of $26.43 million during the quarter, compared to the consensus estimate of $21.95 million.

A number of other analysts have also weighed in on IBRX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ImmunityBio in a report on Wednesday. D. Boral Capital reaffirmed a “buy” rating and issued a $24.00 price target on shares of ImmunityBio in a report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.75.

ImmunityBio Price Performance

Shares of IBRX traded down $0.11 during midday trading on Friday, hitting $2.02. 6,182,350 shares of the company traded hands, compared to its average volume of 8,320,106. ImmunityBio has a one year low of $1.83 and a one year high of $5.88. The firm has a market cap of $1.98 billion, a P/E ratio of -4.91 and a beta of 0.29. The stock has a 50-day moving average of $2.48 and a 200-day moving average of $2.58.

Hedge Funds Weigh In On ImmunityBio

Institutional investors have recently modified their holdings of the company. Slow Capital Inc. purchased a new position in shares of ImmunityBio during the 3rd quarter valued at about $25,000. Truist Financial Corp bought a new position in ImmunityBio during the third quarter valued at approximately $27,000. Diversify Advisory Services LLC purchased a new position in shares of ImmunityBio during the second quarter worth approximately $27,000. Financial Enhancement Group LLC purchased a new position in shares of ImmunityBio during the second quarter worth approximately $28,000. Finally, Summit X LLC bought a new stake in shares of ImmunityBio in the 2nd quarter worth approximately $28,000. 8.58% of the stock is currently 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.