ImmunityBio (NASDAQ:IBRX) Given “Buy” Rating at D. Boral Capital

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reiterated by research analysts at D. Boral Capital in a note issued to investors on Tuesday,Benzinga reports. They presently have a $23.00 price objective on the stock. D. Boral Capital’s price target points to a potential upside of 161.51% from the stock’s current price.

IBRX has been the topic of several other research reports. The Goldman Sachs Group restated a “buy” rating on shares of ImmunityBio in a research note on Monday, February 23rd. BTIG Research initiated coverage on shares of ImmunityBio in a report on Thursday, March 12th. They issued a “buy” rating and a $13.00 price target for the company. HC Wainwright boosted their price objective on shares of ImmunityBio from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, February 23rd. Jefferies Financial Group upped their price objective on shares of ImmunityBio from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $12.00 target price (up from $7.00) on shares of ImmunityBio in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ImmunityBio currently has an average rating of “Moderate Buy” and a consensus target price of $14.40.

ImmunityBio Stock Performance

NASDAQ IBRX opened at $8.80 on Tuesday. ImmunityBio has a twelve month low of $1.83 and a twelve month high of $12.43. The firm’s 50 day moving average price is $6.74 and its two-hundred day moving average price is $3.88. The stock has a market cap of $9.04 billion, a price-to-earnings ratio of -23.99 and a beta of -0.04.

ImmunityBio (NASDAQ:IBRX) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $38.29 million for the quarter. On average, research analysts forecast that ImmunityBio will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at ImmunityBio

In other ImmunityBio news, Director Christobel Selecky sold 25,000 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Barry J. Simon sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $12.01, for a total value of $900,750.00. Following the transaction, the director directly owned 2,850,821 shares in the company, valued at $34,238,360.21. This trade represents a 2.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 501,967 shares of company stock worth $4,466,412 over the last quarter. Company insiders own 69.48% of the company’s stock.

Institutional Trading of ImmunityBio

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

About ImmunityBio

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.