ImmunityBio (NASDAQ:IBRX) Receives “Buy” Rating from D. Boral Capital

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reissued by stock analysts at D. Boral Capital in a note issued to investors on Tuesday,Benzinga reports. They currently have a $24.00 target price on the stock. D. Boral Capital’s price objective points to a potential upside of 334.78% from the company’s previous close.

Several other brokerages also recently commented on IBRX. Jefferies Financial Group raised their price target on shares of ImmunityBio from $8.00 to $9.00 and gave the company a “buy” rating in a report on Friday, December 12th. Piper Sandler restated an “overweight” rating and issued a $7.00 target price on shares of ImmunityBio in a research note on Tuesday. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ImmunityBio in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ImmunityBio currently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

ImmunityBio Stock Performance

Shares of IBRX opened at $5.52 on Tuesday. ImmunityBio has a 52-week low of $1.83 and a 52-week high of $5.58. The stock’s 50-day simple moving average is $2.36 and its 200 day simple moving average is $2.46. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of -13.46 and a beta of 0.03.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. The firm had revenue of $32.06 million during the quarter, compared to analysts’ expectations of $31.88 million. On average, research analysts forecast that ImmunityBio will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ImmunityBio

A number of large investors have recently made changes to their positions in IBRX. Slow Capital Inc. bought a new position in shares of ImmunityBio during the third quarter valued at approximately $25,000. Truist Financial Corp purchased a new position in ImmunityBio during the 3rd quarter valued at $27,000. Swiss Life Asset Management Ltd purchased a new position in ImmunityBio during the 3rd quarter valued at $27,000. Diversify Advisory Services LLC purchased a new stake in shares of ImmunityBio in the 2nd quarter worth about $27,000. Finally, Summit X LLC purchased a new stake in shares of ImmunityBio in the 2nd quarter worth about $28,000. 8.58% of the stock is currently owned by institutional investors.

ImmunityBio Company Profile

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.