ImmunityBio, Inc. (NASDAQ:IBRX – Get Free Report) dropped 21.1% during mid-day trading on Tuesday . The company traded as low as $6.54 and last traded at $7.42. Approximately 86,508,149 shares were traded during trading, an increase of 114% from the average daily volume of 40,442,945 shares. The stock had previously closed at $9.40.
Key ImmunityBio News
Here are the key news stories impacting ImmunityBio this week:
- Positive Sentiment: China approves Anktiva combo therapy for bladder cancer, expanding ImmunityBio’s marketed footprint in Asia to 34 markets — a concrete commercial expansion that supports longer-term revenue potential. ImmunityBio Rises on China Nod to Bladder Cancer Combo Therapy
- Positive Sentiment: NCCN clinical-practice guideline update added Anktiva for papillary-only NMIBC, strengthening its clinical credibility and potential uptake by U.S. oncologists. This likely helped recent upside momentum before today’s drop. ImmunityBio Announces NCCN Update Clinical Practice Guidelines to Include ANKTIVA for Papillary-Only NMIBC
- Positive Sentiment: Analysts and coverage were upbeat: the stock had rallied on expansion prospects (some outlets noted an ~11% move). D. Boral Capital reaffirmed a “buy” with a $23 target, signaling continued analyst conviction despite turbulence. Why ImmunityBio Stock Is Up More Than 11% Today
- Neutral Sentiment: Investor commentary and pieces on valuation highlight a premium price given current revenues and competition; label and geographic expansions are positive but may take time to meaningfully move earnings. A Look At ImmunityBio (IBRX) Valuation After ANKTIVA’s Macau Approval And NCCN Guideline Expansion
- Negative Sentiment: The U.S. Food and Drug Administration sent a warning letter saying a TV ad and podcast promoting Anktiva contained false or misleading claims and violated federal law. That regulatory action is the primary driver of the sharp sell-off and extreme intraday volume. ImmunityBio shares fall on FDA warning letter over cancer therapy claims in ad
- Negative Sentiment: Legal risk increased as plaintiff-firm Johnson Fistel launched an investigation into potential investor claims against ImmunityBio executives, which can amplify uncertainty and selling pressure. ImmunityBio Shareholders Are Encouraged to Reach Out to Johnson Fistel for More Information About Potentially Recovering Their Losses
- Negative Sentiment: Coverage across outlets highlighted the FDA letter as “scathing,” increasing headline risk and driving momentum-led selling despite the company’s recent approvals and guideline wins. ImmunityBio stock price crash: buy the dip or sell the rip?
Analyst Upgrades and Downgrades
Several research firms have commented on IBRX. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ImmunityBio in a research note on Monday, February 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of ImmunityBio in a research note on Monday, December 29th. BTIG Research initiated coverage on ImmunityBio in a research note on Thursday, March 12th. They set a “buy” rating and a $13.00 price target for the company. Jefferies Financial Group increased their price target on ImmunityBio from $8.00 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, HC Wainwright lifted their price objective 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. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.40.
ImmunityBio Trading Down 21.2%
The company has a market cap of $7.62 billion, a PE ratio of -19.50 and a beta of -0.04. The stock has a fifty day simple moving average of $7.38 and a two-hundred day simple moving average of $4.10.
ImmunityBio (NASDAQ:IBRX – Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $38.29 million during the quarter. As a group, equities research analysts anticipate that ImmunityBio, Inc. will post -0.92 EPS for the current fiscal year.
Insider Transactions at ImmunityBio
In related news, Director Barry J. Simon sold 165,000 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $10.25, for a total transaction of $1,691,250.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christobel Selecky sold 50,000 shares of the company’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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 501,967 shares of company stock valued at $4,466,412 in the last quarter. Insiders own 69.48% of the company’s stock.
Institutional Investors Weigh In On ImmunityBio
Several institutional investors have recently modified their holdings of the company. Mariner LLC grew 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 worth $35,000 after acquiring an additional 1,689 shares during the period. Sanctuary Advisors LLC raised its holdings 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 raised its holdings 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 position in ImmunityBio by 9.0% during the fourth quarter. Mutual Advisors LLC now owns 30,200 shares of the company’s stock worth $60,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings 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. Hedge funds and other institutional investors own 8.58% of the company’s stock.
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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