ImmunityBio (NASDAQ:IBRX) Price Target Raised to $6.00

ImmunityBio (NASDAQ:IBRX) had its target price hoisted by Piper Sandler from $5.00 to $6.00 in a research note published on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

ImmunityBio Stock Up 6.9 %

NASDAQ IBRX opened at $8.54 on Monday. The company has a market cap of $5.78 billion, a price-to-earnings ratio of -7.36 and a beta of 1.23. ImmunityBio has a 52 week low of $1.25 and a 52 week high of $10.53. The business has a 50 day moving average price of $5.40 and a 200-day moving average price of $4.33.

ImmunityBio (NASDAQ:IBRX) last released its quarterly earnings data on Tuesday, March 19th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.01). The firm had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.03 million. On average, equities research analysts anticipate that ImmunityBio will post -0.68 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its position in ImmunityBio by 43.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,393 shares of the company’s stock worth $47,000 after purchasing an additional 2,844 shares during the last quarter. Amalgamated Bank raised its stake in shares of ImmunityBio by 21.9% in the fourth quarter. Amalgamated Bank now owns 17,752 shares of the company’s stock valued at $89,000 after buying an additional 3,186 shares during the period. Victory Capital Management Inc. raised its stake in shares of ImmunityBio by 25.8% in the fourth quarter. Victory Capital Management Inc. now owns 17,642 shares of the company’s stock valued at $89,000 after buying an additional 3,613 shares during the period. Courier Capital LLC raised its stake in shares of ImmunityBio by 33.3% in the first quarter. Courier Capital LLC now owns 20,000 shares of the company’s stock valued at $107,000 after buying an additional 5,000 shares during the period. Finally, Wealth Effects LLC raised its stake in shares of ImmunityBio by 11.2% in the fourth quarter. Wealth Effects LLC now owns 59,500 shares of the company’s stock valued at $299,000 after buying an additional 6,000 shares during the period. Hedge funds and other institutional investors own 8.58% of the company’s stock.

ImmunityBio Company Profile

ImmunityBio, Inc, a clinical-stage biotechnology company, engages in discovering, developing, and commercializing next-generation immuno- and cellular therapies for cancer and infectious diseases in the United States and Europe. The company offers immunotherapy and cell therapy platforms, including antibody cytokine fusion protein N-803, vaccine delivery technologies, and natural killer cell therapies.