ImmunityBio (NASDAQ:IBRX) Trading Up 4.4% – Still a Buy?

ImmunityBio, Inc. (NASDAQ:IBRX)’s share price was up 4.4% during trading on Thursday . The company traded as high as $2.97 and last traded at $3.00. Approximately 809,025 shares changed hands during trading, a decline of 87% from the average daily volume of 6,097,896 shares. The stock had previously closed at $2.87.

Analyst Upgrades and Downgrades

IBRX has been the subject of a number of analyst reports. D. Boral Capital reiterated a “buy” rating and issued a $30.00 price objective on shares of ImmunityBio in a research report on Thursday. 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 target on the stock. Finally, HC Wainwright initiated coverage on shares of ImmunityBio in a report on Thursday, March 6th. They issued a “buy” rating and a $8.00 target price for the company. One 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $12.19.

ImmunityBio Stock Performance

The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -3.15 and a beta of 0.82. The company’s 50 day simple moving average is $3.07 and its two-hundred day simple moving average is $3.68.

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

Hedge Funds Weigh In On ImmunityBio

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new position in ImmunityBio in the fourth quarter valued at about $37,000. Waverly Advisors LLC purchased a new stake in shares of ImmunityBio in the 4th quarter worth about $38,000. Woodline Partners LP boosted its holdings in shares of ImmunityBio by 682.7% during the 4th quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock valued at $8,813,000 after buying an additional 3,002,622 shares in the last quarter. Wexford Capital LP bought a new position in shares of ImmunityBio during the fourth quarter valued at $85,000. Finally, Two Sigma Investments LP purchased a new position in shares of ImmunityBio in the fourth quarter worth $72,000. Institutional investors and hedge funds 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.