ImmunityBio (NASDAQ:IBRX) Trading Down 10.9% Following Weak Earnings

Key Points

• Shares fell 10.9% after ImmunityBio reported a GAAP EPS loss of ($0.62) versus a consensus loss of ($0.08), although revenue beat slightly at $44.21 million.
• Regulatory and legal overhang from an FDA warning letter about ANKTIVA claims has already driven a prior ~21% plunge and spawned multiple shareholder class actions, adding significant catalyst uncertainty.
• Despite the turmoil, the company reported strong commercial momentum—net product revenue of about $44.2M (~168% YoY) and $381M in cash/marketable securities—and analysts remain largely bullish with an average price target of $14.40.

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) traded down 10.9% on Thursday following a dissappointing earnings announcement. The stock traded as low as $7.45 and last traded at $7.4650. 11,269,705 shares were traded during trading, a decline of 64% from the average session volume of 31,472,871 shares. The stock had previously closed at $8.38.

The company reported ($0.62) earnings per share (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 analyst estimates of $43.07 million.

Key Headlines Impacting ImmunityBio

Here are the key news stories impacting ImmunityBio this week:

• Positive Sentiment: Record commercial growth — ImmunityBio reported net product revenue of about $44.2M in Q1 2026 (≈168% YoY growth vs Q1 2025) and disclosed cash and marketable securities of $381M, underlining commercial momentum from ANKTIVA’s launch. Business Wire: Q1 Results
• Positive Sentiment: Analyst support — D. Boral Capital reaffirmed a “buy” rating with a $23 price target, signaling some analysts remain bullish on long‑term upside despite recent turmoil. Benzinga
• Positive Sentiment: Operational developments — Media reports highlight founder comments about an AI robot for cell production shipping this month, a possible positive operational milestone if delivered. MSN: AI robot
• Neutral Sentiment: Quarterly loss roughly in line — Zacks notes a Q1 loss of $0.09 per share vs. a consensus loss of $0.08, a small miss that is less material than the larger GAAP EPS headline some outlets reported. Zacks: Q1 loss
• Negative Sentiment: Regulatory/legal overhang — Multiple law firms have filed/shareholder-alerted securities class actions after an FDA warning letter flagged allegedly misleading ANKTIVA claims by the company’s chairman. The FDA action previously triggered a ~21% share plunge and is the primary driver of elevated legal risk and selling pressure. Hagens Berman Pomerantz Berger Montague
• Negative Sentiment: Big EPS headline miss/market reaction — Some reports show a large GAAP EPS miss (company-reported ($0.62) vs. analyst expectations nearer ($0.08)), which intensifies downside pressure when combined with the FDA/legal headlines. Press Release / Earnings
• Negative Sentiment: Catalyst uncertainty — Traders are bracing for regulatory scrutiny and a key ANKTIVA decision amid broader FDA turmoil; this uncertainty is keeping volatility high. MSN: Catalyst phase

Analysts Set New Price Targets

A number of equities research analysts have weighed in on IBRX shares. BTIG Research started coverage on shares of ImmunityBio in a research report on Thursday, March 12th. They set a "buy" rating and a $13.00 price target for the company. HC Wainwright lifted their price target on shares of ImmunityBio from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Monday, February 23rd. The Goldman Sachs Group reissued a "buy" rating on shares of ImmunityBio in a research note on Monday, February 23rd. D. Boral Capital reissued a "buy" rating and issued a $23.00 price objective on shares of ImmunityBio in a research note on Tuesday. Finally, Piper Sandler reissued an "overweight" rating and issued a $12.00 price objective (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $14.40.

Insider Buying and Selling

In other news, Director Christobel Selecky sold 25,000 shares of ImmunityBio stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $10.00, for a total value of $250,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Barry J. Simon sold 165,000 shares of the company's stock in a transaction on 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 transaction, the director owned 2,925,821 shares of the company's stock, valued at approximately $29,989,665.25. The trade was a 5.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 275,000 shares of company stock valued at $2,934,500 in the last quarter. 69.48% of the stock is owned by insiders.

Institutional Investors Weigh In On ImmunityBio

Institutional investors have recently added to or reduced their stakes in the business. Slow Capital Inc. acquired a new position in ImmunityBio during the 3rd quarter worth approximately $25,000. Truist Financial Corp acquired a new position in ImmunityBio during the 3rd quarter worth approximately $27,000. Swiss Life Asset Management Ltd acquired a new position in ImmunityBio during the 3rd quarter worth approximately $27,000. WealthPlan Investment Management LLC acquired a new position in ImmunityBio during the 4th quarter worth approximately $27,000. Finally, Diversify Advisory Services LLC acquired a new position in ImmunityBio during the 2nd quarter worth approximately $27,000. Hedge funds and other institutional investors own 8.58% of the company's stock.

ImmunityBio Stock Performance

The company has a market cap of $7.73 billion, a price-to-earnings ratio of -19.46 and a beta of 0.02. The company has a 50-day simple moving average of $8.08 and a 200-day simple moving average of $5.14.

ImmunityBio Company Profile

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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