D. Boral Capital Reiterates “Buy” Rating for ImmunityBio (NASDAQ:IBRX)

D. Boral Capital reiterated their buy rating on shares of ImmunityBio (NASDAQ:IBRX) in a research report released on Friday morning,Benzinga reports. The brokerage currently has a $30.00 price objective on the stock.

Separately, EF Hutton Acquisition Co. I upgraded shares of ImmunityBio to a “strong-buy” rating in a research note on Wednesday, October 23rd.

ImmunityBio Stock Down 1.9 %

ImmunityBio stock opened at $2.62 on Friday. The stock has a 50-day moving average price of $4.49 and a 200 day moving average price of $4.74. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -2.85 and a beta of 0.86. ImmunityBio has a 52 week low of $2.61 and a 52 week high of $10.53.

Institutional Trading of ImmunityBio

A number of hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in 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. CIBC Asset Management Inc purchased a new stake in ImmunityBio during the second quarter worth $118,000. Rhumbline Advisers grew its position in ImmunityBio by 13.3% during the second quarter. Rhumbline Advisers now owns 211,677 shares of the company’s stock valued at $1,338,000 after buying an additional 24,802 shares during the period. Wealth Effects LLC increased its holdings in ImmunityBio by 33.6% in the second quarter. Wealth Effects LLC now owns 87,500 shares of the company’s stock valued at $553,000 after buying an additional 22,000 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of ImmunityBio by 16.0% in the second quarter. Victory Capital Management Inc. now owns 19,953 shares of the company’s stock worth $126,000 after acquiring an additional 2,746 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 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.