ImmunityBio (NASDAQ:IBRX) Receives Buy Rating from D. Boral Capital

D. Boral Capital reissued their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $30.00 target price on the stock.

Other research analysts have also issued research reports about the stock. Piper Sandler cut their price target on shares of ImmunityBio from $6.00 to $4.75 and set a “neutral” rating on the stock in a research note on Monday, August 19th. EF Hutton Acquisition Co. I raised shares of ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd.

ImmunityBio Price Performance

NASDAQ:IBRX opened at $5.10 on Thursday. The business’s 50-day simple moving average is $4.27 and its 200-day simple moving average is $5.15. ImmunityBio has a fifty-two week low of $3.10 and a fifty-two week high of $10.53. The stock has a market capitalization of $3.55 billion, a PE ratio of -5.54 and a beta of 0.99.

Institutional Investors Weigh In On ImmunityBio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of ImmunityBio by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 13,539,590 shares of the company’s stock valued at $72,708,000 after acquiring an additional 211,065 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in ImmunityBio during the first quarter valued at approximately $85,000. Lazard Asset Management LLC grew its stake in ImmunityBio by 102.6% in the first quarter. Lazard Asset Management LLC now owns 13,019 shares of the company’s stock valued at $68,000 after purchasing an additional 6,593 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of ImmunityBio by 3.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 123,879 shares of the company’s stock worth $667,000 after purchasing an additional 4,533 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of ImmunityBio during the 1st quarter worth approximately $499,000. 8.58% of the stock is currently owned by institutional investors and hedge funds.

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.