ImmunityBio (NASDAQ:IBRX) Now Covered by HC Wainwright

HC Wainwright began coverage on shares of ImmunityBio (NASDAQ:IBRX) in a research report sent to investors on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $8.00 price objective on the stock.

IBRX has been the subject of a number of other reports. D. Boral Capital restated a “buy” rating and issued a $30.00 price target on shares of ImmunityBio in a research note on Friday, February 28th. BTIG Research assumed coverage on ImmunityBio in a research note on Friday, January 10th. They set a “buy” rating and a $6.00 target price for the company. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $12.19.

ImmunityBio Stock Down 2.3 %

IBRX stock opened at $2.99 on Thursday. The business has a 50 day moving average price of $3.05 and a two-hundred day moving average price of $3.72. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -3.25 and a beta of 0.82. ImmunityBio has a twelve month low of $2.28 and a twelve month high of $10.53.

ImmunityBio (NASDAQ:IBRX) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.11. The company had revenue of $7.55 million during the quarter, compared to the consensus estimate of $8.74 million. On average, equities research analysts anticipate that ImmunityBio will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of ImmunityBio by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock worth $44,360,000 after acquiring an additional 425,713 shares during the period. State Street Corp boosted its stake in ImmunityBio by 10.1% in the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after purchasing an additional 790,408 shares during the period. Woodline Partners LP boosted its stake in ImmunityBio by 682.7% in the 4th quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock valued at $8,813,000 after purchasing an additional 3,002,622 shares during the period. Tang Capital Management LLC bought a new stake in ImmunityBio in the 4th quarter valued at $7,204,000. Finally, Northern Trust Corp boosted its stake in ImmunityBio by 7.9% in the 4th quarter. Northern Trust Corp now owns 1,323,424 shares of the company’s stock valued at $3,388,000 after purchasing an additional 97,348 shares during the period. 8.58% of the stock is currently owned by institutional investors.

ImmunityBio Company Profile

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.