ImmunityBio (NASDAQ:IBRX) Trading Down 5.3% - Time to Sell?

Key Points

• ImmunityBio is facing heightened regulatory and legal pressure after an FDA warning letter flagged allegedly misleading efficacy claims about ANKTIVA, and several firms have filed or are recruiting for securities-fraud class actions.
• Shares fell about 5.3% to $7.365 on Thursday with trading volume sharply below average; the company has a market cap near $7.45 billion while Wall Street’s consensus remains a Moderate Buy with a $14.40 target.
• Insiders have sold roughly 501,967 shares in the past 90 days (including director sales), even though insiders still own about 69.48% of the company’s stock, a factor investors may consider when assessing confidence and liquidity.

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report) fell 5.3% on Thursday . The stock traded as low as $7.27 and last traded at $7.3650. 4,562,757 shares were traded during mid-day trading, a decline of 87% from the average session volume of 35,245,004 shares. The stock had previously closed at $7.78.

Key Stories Impacting ImmunityBio

Here are the key news stories impacting ImmunityBio this week:

• Neutral Sentiment: Analysts and commentators are reassessing IBRX valuation following an ANKTIVA-driven Q1 2026 revenue update — this frames the commercial stakes if regulatory action limits promotional claims. Assessing ImmunityBio (IBRX) Valuation After ANKTIVA Driven Q1 2026 Revenue Update
• Negative Sentiment: Multiple law firms have filed or publicized securities-fraud class actions alleging misleading statements about ANKTIVA and are recruiting lead plaintiffs for the class period Jan. 19–Mar. 24, 2026; firms include Kessler Topaz, Pomerantz, Faruqi, Robbins Geller and others. Kessler Topaz filing
• Negative Sentiment: The litigation push follows an FDA warning letter that flagged allegedly misleading efficacy claims by the company’s executive chairman about ANKTIVA — the regulator’s involvement materially raises the risk of penalties, mandated corrective communications, or restrictions on promotion. Hagens Berman summary
• Negative Sentiment: Dozens of investor alerts and reminders (ClaimsFiler, PR firms, and many plaintiff firms) emphasize the May 26, 2026 deadline to seek lead-plaintiff status — this increased publicity tends to prolong headline volatility and can pressure the share price while uncertainty persists. ClaimsFiler reminder

Wall Street Analyst Weigh In

Several research firms recently weighed in on IBRX. The Goldman Sachs Group reiterated a "buy" rating on shares of ImmunityBio in a research note on Monday, February 23rd. HC Wainwright raised their price target on shares of ImmunityBio from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Monday, February 23rd. Weiss Ratings restated a "sell (d-)" rating on shares of ImmunityBio in a research note on Tuesday. BTIG Research began coverage on shares of ImmunityBio in a research note on Thursday, March 12th. They set a "buy" rating and a $13.00 price target for the company. Finally, Piper Sandler restated an "overweight" rating and set a $12.00 price target (up from $7.00) on shares of ImmunityBio in a research note on Wednesday, March 4th. One research 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $14.40.

ImmunityBio Stock Down 6.9%

The company has a market cap of $7.45 billion, a price-to-earnings ratio of -19.08 and a beta of 0.13. The company's fifty day moving average price is $7.93 and its two-hundred day moving average price is $4.65.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last posted its quarterly earnings data on Monday, February 23rd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $38.29 million for the quarter. Research analysts forecast that ImmunityBio, Inc. will post -0.92 earnings per share for the current year.

Insider Activity at ImmunityBio

In other news, Director Christobel Selecky sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barry J. Simon sold 75,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $12.01, for a total transaction of $900,750.00. Following the sale, the director directly owned 2,850,821 shares of the company's stock, valued at approximately $34,238,360.21. The trade was a 2.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 501,967 shares of company stock valued at $4,466,412. Company insiders own 69.48% of the company's stock.

Institutional Trading of ImmunityBio

A number of hedge funds and other institutional investors have recently modified their holdings of IBRX. Heights Capital Management Inc. acquired a new stake in shares of ImmunityBio in the third quarter valued at approximately $16,152,000. Vanguard Group Inc. increased its holdings in shares of ImmunityBio by 26.8% in the third quarter. Vanguard Group Inc. now owns 27,655,205 shares of the company's stock valued at $68,032,000 after purchasing an additional 5,837,898 shares in the last quarter. State Street Corp increased its holdings in shares of ImmunityBio by 45.4% in the fourth quarter. State Street Corp now owns 16,455,703 shares of the company's stock valued at $32,582,000 after purchasing an additional 5,139,890 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of ImmunityBio by 439.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,152,684 shares of the company's stock valued at $12,182,000 after purchasing an additional 5,012,001 shares in the last quarter. Finally, Woodline Partners LP increased its holdings in shares of ImmunityBio by 53.7% in the third quarter. Woodline Partners LP now owns 5,297,725 shares of the company's stock valued at $13,032,000 after purchasing an additional 1,851,854 shares in the last quarter. Institutional investors and hedge funds own 8.58% of the company's stock.

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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