ImmunityBio (NASDAQ:IBRX) Coverage Initiated by Analysts at HC Wainwright

Investment analysts at HC Wainwright started coverage on shares of ImmunityBio (NASDAQ:IBRX) in a research report issued on Thursday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $8.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 161.44% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. BTIG Research assumed coverage on ImmunityBio in a research note on Friday, January 10th. They issued a “buy” rating and a $6.00 price objective for the company. D. Boral Capital reiterated a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ImmunityBio has a consensus rating of “Buy” and an average target price of $12.19.

ImmunityBio Stock Up 1.3 %

Shares of IBRX opened at $3.06 on Thursday. ImmunityBio has a 52-week low of $2.28 and a 52-week high of $10.53. The stock has a fifty day simple moving average of $3.04 and a two-hundred day simple moving average of $3.72. The company has a market capitalization of $2.13 billion, a PE ratio of -3.33 and a beta of 0.94.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, beating 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. As a group, equities analysts anticipate that ImmunityBio will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ImmunityBio

Several large investors have recently modified their holdings of IBRX. Stephens Inc. AR acquired a new stake in ImmunityBio during the 4th quarter worth $26,000. Cibc World Markets Corp acquired a new stake in shares of ImmunityBio during the fourth quarter worth about $35,000. Maia Wealth LLC acquired a new position in ImmunityBio in the 4th quarter valued at about $37,000. GF Fund Management CO. LTD. purchased a new position in shares of ImmunityBio in the 4th quarter valued at approximately $37,000. Finally, Schechter Investment Advisors LLC acquired a new stake in shares of ImmunityBio in the fourth quarter valued at about $38,000. 8.58% of the stock is 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.