D. Boral Capital Reaffirms Buy Rating for ImmunityBio (NASDAQ:IBRX)

ImmunityBio (NASDAQ:IBRX)‘s stock had its “buy” rating reaffirmed by investment analysts at D. Boral Capital in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $30.00 price target on the stock. D. Boral Capital’s target price points to a potential upside of 488.24% from the company’s previous close.

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

ImmunityBio Stock Performance

IBRX opened at $5.10 on Thursday. 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 price-to-earnings ratio of -5.54 and a beta of 0.99. The company has a fifty day moving average of $4.27 and a two-hundred day moving average of $5.15.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in IBRX. Virtu Financial LLC acquired a new stake in ImmunityBio during the 3rd quarter worth $51,000. Barclays PLC lifted its stake in shares of ImmunityBio by 127.4% in the third quarter. Barclays PLC now owns 361,036 shares of the company’s stock worth $1,344,000 after buying an additional 202,248 shares in the last quarter. XTX Topco Ltd grew its stake in ImmunityBio by 309.4% during the 3rd quarter. XTX Topco Ltd now owns 92,910 shares of the company’s stock valued at $346,000 after acquiring an additional 70,215 shares in the last quarter. State Street Corp raised its holdings 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 acquiring an additional 790,408 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new position in ImmunityBio in the 3rd quarter worth approximately $136,000. 8.58% of the stock is owned by institutional investors and hedge funds.

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.