HC Wainwright Increases Earnings Estimates for ImmunityBio

ImmunityBio, Inc. (NASDAQ:IBRX) – Investment analysts at HC Wainwright lifted their FY2029 earnings per share (EPS) estimates for shares of ImmunityBio in a research report issued to clients and investors on Wednesday, November 5th. HC Wainwright analyst A. Maldonado now expects that the company will post earnings per share of $0.41 for the year, up from their previous estimate of $0.34. HC Wainwright currently has a “Buy” rating and a $8.00 target price on the stock. The consensus estimate for ImmunityBio’s current full-year earnings is ($0.92) per share.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of ImmunityBio in a research report on Wednesday. D. Boral Capital reissued a “buy” rating and set a $24.00 target price on shares of ImmunityBio in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, ImmunityBio has a consensus rating of “Moderate Buy” and a consensus target price of $10.75.

ImmunityBio Trading Down 5.0%

NASDAQ IBRX traded down $0.11 during trading on Friday, hitting $2.02. 6,182,350 shares of the company’s stock were exchanged, compared to its average volume of 8,320,106. The company has a market cap of $1.98 billion, a PE ratio of -4.91 and a beta of 0.29. ImmunityBio has a fifty-two week low of $1.83 and a fifty-two week high of $5.88. The stock’s 50 day moving average price is $2.48 and its two-hundred day moving average price is $2.58.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). The business had revenue of $26.43 million during the quarter, compared to analyst estimates of $21.95 million.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Plancorp LLC bought a new position in shares of ImmunityBio during the 2nd quarter worth $717,000. Swiss National Bank raised its stake in ImmunityBio by 49.8% in the 1st quarter. Swiss National Bank now owns 410,400 shares of the company’s stock valued at $1,235,000 after acquiring an additional 136,400 shares during the period. Nuveen LLC purchased a new stake in ImmunityBio during the first quarter valued at about $1,083,000. Vanguard Group Inc. boosted its position in ImmunityBio by 17.4% during the first quarter. Vanguard Group Inc. now owns 20,344,554 shares of the company’s stock worth $61,237,000 after purchasing an additional 3,016,325 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of ImmunityBio in the first quarter worth about $54,000. Institutional investors 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.