HC Wainwright Begins Coverage on ImmunityBio (NASDAQ:IBRX)

Equities research analysts at HC Wainwright began coverage on shares of ImmunityBio (NASDAQ:IBRX) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $8.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 166.67% from the company’s previous close.

Several other research firms have also commented on IBRX. D. Boral Capital restated a “buy” rating and set a $30.00 price target on shares of ImmunityBio in a research report on Friday, February 28th. BTIG Research began coverage on shares of ImmunityBio in a research report on Friday, January 10th. They set a “buy” rating and a $6.00 price target for the company. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $12.19.

ImmunityBio Stock Performance

Shares of NASDAQ:IBRX opened at $3.00 on Thursday. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -3.26 and a beta of 0.82. ImmunityBio has a 1-year low of $2.28 and a 1-year high of $10.53. The company’s fifty day moving average is $3.05 and its two-hundred day moving average is $3.72.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings results on Monday, March 3rd. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.11. The firm had revenue of $7.55 million for the quarter, compared to the consensus estimate of $8.74 million. Sell-side analysts expect that ImmunityBio will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On ImmunityBio

A number of institutional investors and hedge funds have recently bought and sold shares of IBRX. Woodline Partners LP grew its position in ImmunityBio by 682.7% in 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. Tang Capital Management LLC bought a new position in ImmunityBio in the 4th quarter valued at about $7,204,000. Altium Capital Management LLC bought a new position in ImmunityBio in the 4th quarter valued at about $2,714,000. State Street Corp grew its position in ImmunityBio by 10.1% in the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock valued at $32,195,000 after buying an additional 790,408 shares in the last quarter. Finally, Ghisallo Capital Management LLC bought a new position in shares of ImmunityBio during the 4th quarter valued at about $1,280,000. Institutional investors own 8.58% of the company’s stock.

ImmunityBio Company Profile

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.