ImmunityBio’s (IBRX) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $8.00 price target on the stock. HC Wainwright also issued estimates for ImmunityBio’s Q1 2025 earnings at ($0.12) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at ($0.11) EPS, Q4 2025 earnings at ($0.10) EPS, FY2025 earnings at ($0.45) EPS, FY2026 earnings at ($0.36) EPS, FY2027 earnings at ($0.17) EPS, FY2028 earnings at $0.03 EPS and FY2029 earnings at $0.29 EPS.

IBRX has been the subject of several other reports. BTIG Research initiated coverage on ImmunityBio in a research report on Friday, January 10th. They set a “buy” rating and a $6.00 target price for the company. D. Boral Capital reiterated a “buy” rating and set a $30.00 price objective on shares of ImmunityBio in a report on Thursday. One investment 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 data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $12.19.

ImmunityBio Trading Up 1.0 %

IBRX stock opened at $2.90 on Thursday. The stock has a market cap of $2.47 billion, a PE ratio of -3.15 and a beta of 0.82. ImmunityBio has a 12 month low of $2.28 and a 12 month high of $10.53. The company has a 50-day moving average price of $3.07 and a 200 day moving average price of $3.67.

ImmunityBio (NASDAQ:IBRX) last announced its earnings results on Monday, March 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.11. The business had revenue of $7.55 million for the quarter, compared to analysts’ expectations of $8.74 million. Sell-side analysts forecast that ImmunityBio will post -0.92 EPS for the current year.

Hedge Funds Weigh In On ImmunityBio

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in ImmunityBio by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 17,328,229 shares of the company’s stock worth $44,360,000 after acquiring an additional 425,713 shares during the period. State Street Corp raised its holdings in shares of 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 purchasing an additional 790,408 shares in the last quarter. Woodline Partners LP boosted its position in ImmunityBio by 682.7% during the 4th quarter. Woodline Partners LP now owns 3,442,440 shares of the company’s stock valued at $8,813,000 after acquiring an additional 3,002,622 shares in the last quarter. Tang Capital Management LLC bought a new stake in ImmunityBio during the 4th quarter valued at $7,204,000. Finally, Northern Trust Corp increased its holdings in shares of ImmunityBio by 7.9% in the 4th quarter. Northern Trust Corp now owns 1,323,424 shares of the company’s stock valued at $3,388,000 after acquiring an additional 97,348 shares during the period. 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.