ImmunityBio (NASDAQ:IBRX) Trading Up 8.9% - Still a Buy?

Key Points

• Shares jumped 8.9% to $8.07 after positive catalysts — including China approval of an Anktiva combination and expanded NCCN guidance — and several analyst buy ratings; MarketBeat’s consensus remains a Moderate Buy with a $14.40 average target.
• An earlier crash was sparked by an FDA warning letter accusing the company of misleading Anktiva promotions, and multiple law firms have opened investigations, creating ongoing regulatory, reputational and legal risk.
• The company remains unprofitable (negative EPS) with a market cap of about $8.3 billion, and insiders own roughly 69.5% of shares while having sold ~502,000 shares over the past 90 days.

ImmunityBio, Inc. (NASDAQ:IBRX - Get Free Report)'s share price rose 8.9% on Wednesday . The stock traded as high as $8.35 and last traded at $8.07. Approximately 28,840,882 shares changed hands during mid-day trading, a decline of 28% from the average daily volume of 40,279,359 shares. The stock had previously closed at $7.41.

More ImmunityBio News

Here are the key news stories impacting ImmunityBio this week:

• Positive Sentiment: China approval and guideline expansion broaden commercial reach — China approved an Anktiva combination for bladder cancer and the therapy was added to NCCN guidance for papillary-only NMIBC, expanding the addressable market across Asia and bringing total market approvals to ~34, supporting longer‑term revenue potential. China approval article
• Positive Sentiment: Analyst buy rating — D. Boral Capital issued a “Buy” on IBRX, which can help shore up investor confidence after the sell‑off. Buy rating article
• Neutral Sentiment: Some analysts are downplaying the FDA letter — at least one analyst and coverage pieces suggest the warning may be manageable and not a clinical setback, which helps explain intraday buying after the drop. Analyst reaction article
• Neutral Sentiment: Mixed coverage on valuation and guidance — several pieces are re‑pricing IBRX after recent approvals and the marketing controversy; these are informational and may feed both buy and sell decisions. Valuation article
• Negative Sentiment: FDA warning letter over misleading Anktiva promotions prompted the initial crash — the FDA says a TV ad and podcast contained false or misleading efficacy/risk claims, which triggered investor concern about regulatory, reputational and commercial impact. FDA warning article
• Negative Sentiment: Multiple law‑firm investigations and potential securities actions — Kaplan Fox, Rosen Law Firm and Johnson Fistel are soliciting investors and investigating possible misstatements by the company and executives, increasing legal risk and potential liabilities. Kaplan Fox investigation Rosen Law Firm article Johnson Fistel article

Analyst Upgrades and Downgrades

A number of research firms have commented on IBRX. Weiss Ratings restated a "sell (e+)" rating on shares of ImmunityBio in a research report on Monday, December 29th. BTIG Research began coverage on ImmunityBio in a report on Thursday, March 12th. They set a "buy" rating and a $13.00 price target for the company. Jefferies Financial Group raised their price objective on ImmunityBio from $8.00 to $9.00 and gave the stock a "buy" rating in a research report on Friday, December 12th. The Goldman Sachs Group restated a "buy" rating on shares of ImmunityBio in a report on Monday, February 23rd. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $12.00 target price (up from $7.00) on shares of ImmunityBio in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $14.40.

ImmunityBio Price Performance

The business has a 50 day simple moving average of $7.47 and a 200 day simple moving average of $4.14. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of -21.24 and a beta of -0.03.

ImmunityBio (NASDAQ:IBRX - Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.06) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.02. The firm had revenue of $38.29 million during the quarter. On average, equities research analysts predict that ImmunityBio, Inc. will post -0.92 EPS for the current year.

Insider Transactions at ImmunityBio

In other ImmunityBio news, Director Barry J. Simon sold 165,000 shares of ImmunityBio stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $10.25, for a total value of $1,691,250.00. Following the completion of the transaction, the director directly owned 2,925,821 shares of the company's stock, valued at $29,989,665.25. The trade was a 5.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christobel Selecky sold 50,000 shares of the business's stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $5.00, for a total transaction of $250,000.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 501,967 shares of company stock valued at $4,466,412 over the last 90 days. 69.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ImmunityBio

Several large investors have recently added to or reduced their stakes in IBRX. Mariner LLC increased its holdings 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 during the last quarter. Sanctuary Advisors LLC lifted its stake in ImmunityBio by 6.9% during the fourth quarter. Sanctuary Advisors LLC now owns 29,547 shares of the company's stock worth $59,000 after purchasing an additional 1,918 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in ImmunityBio by 8.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 28,783 shares of the company's stock worth $57,000 after purchasing an additional 2,271 shares during the last quarter. Mutual Advisors LLC boosted its holdings in ImmunityBio by 9.0% in the fourth quarter. Mutual Advisors LLC now owns 30,200 shares of the company's stock valued at $60,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in ImmunityBio by 4.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 75,776 shares of the company's stock valued at $150,000 after purchasing an additional 3,280 shares during the last quarter. 8.58% of the stock is owned by hedge funds and other 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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