ImmunityBio (NASDAQ:IBRX) Now Covered by Analysts at BTIG Research

BTIG Research started coverage on shares of ImmunityBio (NASDAQ:IBRX) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $6.00 target price on the stock.

Several other brokerages have also recently issued reports on IBRX. EF Hutton Acquisition Co. I upgraded ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd. D. Boral Capital reaffirmed a “buy” rating and set a $30.00 price objective on shares of ImmunityBio in a report on Monday, January 6th.

ImmunityBio Stock Performance

Shares of NASDAQ IBRX opened at $2.42 on Friday. The company has a market cap of $1.69 billion, a P/E ratio of -2.63 and a beta of 0.86. ImmunityBio has a 52-week low of $2.38 and a 52-week high of $10.53. The firm’s fifty day moving average is $3.96 and its two-hundred day moving average is $4.37.

Institutional Investors Weigh In On ImmunityBio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBRX. State Street Corp increased its position in shares of ImmunityBio by 10.1% during 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 during the last quarter. Charles Schwab Investment Management Inc. increased its position in ImmunityBio by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,265,981 shares of the company’s stock valued at $4,709,000 after acquiring an additional 29,665 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of ImmunityBio by 37.9% in the second quarter. Bank of New York Mellon Corp now owns 621,536 shares of the company’s stock valued at $3,928,000 after acquiring an additional 170,742 shares during the period. Barclays PLC lifted its holdings in shares of ImmunityBio by 127.4% in the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock worth $1,344,000 after acquiring an additional 202,248 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of ImmunityBio by 13.3% during the 2nd quarter. Rhumbline Advisers now owns 211,677 shares of the company’s stock worth $1,338,000 after purchasing an additional 24,802 shares during the period. 8.58% of the stock is currently owned by hedge funds and other institutional investors.

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.