Analysts Set ImmunityBio, Inc. (NASDAQ:IBRX) PT at $10.40

ImmunityBio, Inc. (NASDAQ:IBRX) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $10.40.

IBRX has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of ImmunityBio in a research report on Monday, December 29th. Jefferies Financial Group increased their price objective on shares of ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, D. Boral Capital reissued a “buy” rating and set a $24.00 price target on shares of ImmunityBio in a research report on Thursday, December 11th.

ImmunityBio Trading Up 1.8%

ImmunityBio stock opened at $2.24 on Tuesday. The stock has a 50-day moving average price of $2.15 and a 200 day moving average price of $2.42. The stock has a market cap of $2.21 billion, a PE ratio of -5.46 and a beta of 0.03. ImmunityBio has a 52 week low of $1.83 and a 52 week high of $4.27.

ImmunityBio (NASDAQ:IBRX) last released its earnings results on Wednesday, November 5th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate 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, equities analysts predict that ImmunityBio will post -0.92 EPS for the current year.

Hedge Funds Weigh In On ImmunityBio

A number of institutional investors and hedge funds have recently bought and sold shares of IBRX. Armistice Capital LLC acquired a new stake in shares of ImmunityBio during the second quarter worth $20,497,000. Heights Capital Management Inc. acquired a new position in ImmunityBio during the third quarter worth about $16,152,000. Vanguard Group Inc. raised its holdings in shares of ImmunityBio by 26.8% in the 3rd quarter. Vanguard Group Inc. now owns 27,655,205 shares of the company’s stock worth $68,032,000 after purchasing an additional 5,837,898 shares in the last quarter. AlphaCore Capital LLC acquired a new stake in shares of ImmunityBio during the 2nd quarter valued at $7,854,000. Finally, Woodline Partners LP lifted its holdings in shares of ImmunityBio by 53.7% during the third quarter. Woodline Partners LP now owns 5,297,725 shares of the company’s stock valued at $13,032,000 after purchasing an additional 1,851,854 shares during the last quarter. Hedge funds and other institutional investors own 8.58% of the company’s stock.

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.