ImmunityBio (NASDAQ:IBRX) Coverage Initiated at BTIG Research

Stock analysts at BTIG Research initiated coverage on shares of ImmunityBio (NASDAQ:IBRX) in a research note issued on Friday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $6.00 price target on the stock. BTIG Research’s target price points to a potential upside of 134.38% from the stock’s previous close.

A number of other brokerages also recently weighed in on IBRX. EF Hutton Acquisition Co. I raised ImmunityBio to a “strong-buy” rating in a research report on Wednesday, October 23rd. D. Boral Capital restated a “buy” rating and issued a $30.00 price target on shares of ImmunityBio in a report on Monday.

ImmunityBio Stock Down 6.2 %

Shares of NASDAQ:IBRX opened at $2.56 on Friday. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -2.78 and a beta of 0.86. The firm has a 50 day moving average of $4.02 and a 200 day moving average of $4.40. ImmunityBio has a 52 week low of $2.50 and a 52 week high of $10.53.

Hedge Funds Weigh In On ImmunityBio

Hedge funds have recently modified their holdings of the stock. State Street Corp raised 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 during the last quarter. Barclays PLC raised its position in ImmunityBio by 127.4% during the 3rd quarter. Barclays PLC now owns 361,036 shares of the company’s stock worth $1,344,000 after buying an additional 202,248 shares during the last quarter. HighTower Advisors LLC acquired a new stake in ImmunityBio during the 3rd quarter valued at approximately $136,000. Bank of New York Mellon Corp boosted its holdings in shares of ImmunityBio by 37.9% in the 2nd 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in ImmunityBio by 22.0% in the third 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 during the last quarter. Institutional investors and hedge funds 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.