ImmunityBio (NASDAQ:IBRX) Shares Gap Up - Here's Why

Key Points

• ImmunityBio shares gapped up after the company’s FDA supplemental BLA for ANKTIVA plus BCG was accepted, advancing its bladder cancer expansion application and setting a PDUFA date of January 6, 2027.
• Analysts remain broadly constructive on IBRX, with firms like HC Wainwright, Piper Sandler, and BTIG issuing bullish targets; the current consensus is a Moderate Buy with an average price target of $14.20.
• Despite the positive catalyst, the stock still faces a legal overhang from class-action claims tied to prior FDA-related concerns over Anktiva advertising, even as ImmunityBio also secured five U.S. patents that could protect the franchise through 2035.

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $7.76, but opened at $8.42. ImmunityBio shares last traded at $8.1140, with a volume of 8,016,909 shares traded.

ImmunityBio News Roundup

Here are the key news stories impacting ImmunityBio this week:

• Positive Sentiment: The FDA accepted ImmunityBio’s supplemental BLA for ANKTIVA plus BCG, moving the bladder cancer expansion application forward and assigning a PDUFA date of January 6, 2027. Article Title
• Positive Sentiment: HC Wainwright reaffirmed a Buy rating and set a $15 price target, signaling bullish analyst sentiment toward IBRX. Article Title
• Positive Sentiment: ImmunityBio secured five U.S. patents for Anktiva in bladder cancer, strengthening franchise protection through 2035. Article Title
• Neutral Sentiment: The company continues to attract investor attention around a securities class action deadline tied to prior FDA-related allegations, but these notices are largely legal reminders rather than new operational developments. Article Title
• Negative Sentiment: Ongoing class-action claims related to FDA warning concerns over Anktiva’s advertising add legal overhang and could pressure sentiment. Article Title

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IBRX shares. Piper Sandler reiterated an "overweight" rating and set a $12.00 price objective (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. The Goldman Sachs Group reiterated a "buy" rating on shares of ImmunityBio in a research note on Monday, February 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of ImmunityBio in a research note on Tuesday, April 14th. BTIG Research set a $12.00 price objective on shares of ImmunityBio in a research note on Friday, May 8th. Finally, HC Wainwright reiterated a "buy" rating and set a $15.00 price objective on shares of ImmunityBio in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $14.20.

ImmunityBio Stock Up 7.5%

The stock has a market cap of $8.73 billion, a price-to-earnings ratio of -9.77 and a beta of 0.02. The firm's 50 day moving average is $7.78 and its two-hundred day moving average is $5.49.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.54). The business had revenue of $44.21 million for the quarter, compared to analysts' expectations of $43.07 million. On average, analysts anticipate that ImmunityBio, Inc. will post -0.31 EPS for the current fiscal year.

Insider Activity

In other ImmunityBio news, Director Christobel Selecky sold 25,000 shares of the company's stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $10.00, for a total value of $250,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barry J. Simon sold 165,000 shares of the company's stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $10.25, for a total transaction of $1,691,250.00. Following the completion of the transaction, the director owned 2,925,821 shares of the company's stock, valued at approximately $29,989,665.25. This trade represents a 5.34% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 275,000 shares of company stock valued at $2,934,500. 69.48% of the stock is owned by insiders.

Institutional Trading of ImmunityBio

Large investors have recently added to or reduced their stakes in the business. Mariner LLC lifted its position in shares of ImmunityBio by 10.5% in the 4th quarter. Mariner LLC now owns 17,814 shares of the company's stock valued at $35,000 after acquiring an additional 1,689 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of ImmunityBio by 6.9% in the 4th quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company's stock valued at $59,000 after acquiring an additional 1,918 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of ImmunityBio by 8.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company's stock valued at $57,000 after acquiring an additional 2,271 shares in the last quarter. Archer Investment Corp lifted its position in shares of ImmunityBio by 67.1% in the 1st quarter. Archer Investment Corp now owns 5,872 shares of the company's stock valued at $45,000 after acquiring an additional 2,358 shares in the last quarter. Finally, Mutual Advisors LLC lifted its position in shares of ImmunityBio by 9.0% in the 4th quarter. Mutual Advisors LLC now owns 30,200 shares of the company's stock valued at $60,000 after acquiring an additional 2,500 shares in the last quarter. 8.58% of the stock is currently owned by institutional investors.

About ImmunityBio

ImmunityBio, Inc is a clinical-stage biotechnology company specializing in the development of novel immunotherapies for cancer and infectious diseases. The company’s research platform centers on harnessing the power of the human immune system—through engineered T cells, natural killer (NK) cells, cytokine superagonists and viral-vectored vaccines—to target and eliminate diseased cells across a range of indications.

Among its lead assets is Anktiva (formerly known as N-803), an interleukin-15 superagonist designed to stimulate NK and T cell activity.

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