ImmunityBio (NASDAQ:IBRX) Coverage Initiated by Analysts at BTIG Research

Analysts at BTIG Research began coverage on shares of ImmunityBio (NASDAQ:IBRX) in a note issued to investors on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $6.00 price target on the stock. BTIG Research’s target price suggests a potential upside of 134.38% from the stock’s previous close.

Other analysts also recently issued reports about the company. D. Boral Capital restated a “buy” rating and issued a $30.00 price target on shares of ImmunityBio in a research report on Monday. EF Hutton Acquisition Co. I upgraded shares of ImmunityBio to a “strong-buy” rating in a report on Wednesday, October 23rd.

ImmunityBio Price Performance

Shares of IBRX stock opened at $2.56 on Friday. The company has a market cap of $1.78 billion, a PE ratio of -2.78 and a beta of 0.86. ImmunityBio has a 1 year low of $2.50 and a 1 year high of $10.53. The stock’s 50 day simple moving average is $4.02 and its two-hundred day simple moving average is $4.40.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IBRX. State Street Corp grew its stake in ImmunityBio by 10.1% in the 3rd quarter. State Street Corp now owns 8,654,460 shares of the company’s stock worth $32,195,000 after acquiring an additional 790,408 shares in the last quarter. Barclays PLC grew its stake in 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 purchasing an additional 202,248 shares in the last quarter. HighTower Advisors LLC bought a new position in ImmunityBio in the third quarter worth approximately $136,000. Bank of New York Mellon Corp increased its holdings in ImmunityBio by 37.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock worth $3,928,000 after purchasing an additional 170,742 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in ImmunityBio by 22.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,192 shares of the company’s stock valued at $99,000 after purchasing an additional 4,545 shares in the last quarter. Hedge funds and other 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.