ImmunityBio (IBRX) Shares Drop 12.13% Despite 207.14% Monthly Surge
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6d ago
0mins
Source: Fool
- Stock Fluctuation: ImmunityBio's shares fell 12.13% today to $6.45, despite a 63.29% rise over the past five days and a remarkable 207.14% increase in the last month, indicating significant market volatility.
- Surge in Trading Volume: Today's trading volume reached 74.6 million shares, which is 238% above the three-month average of 22.1 million shares, reflecting heightened investor interest likely linked to recent profit-taking.
- FDA Progress: ImmunityBio has agreed with the FDA on a pathway to resubmit its Anktiva bladder cancer therapy application, and the Saudi FDA has granted approval for the drug, showcasing positive regulatory advancements for the company.
- Earnings Performance: The company reported a net profit of $113 million last year, a staggering 700% increase year-on-year, while 19 out of 23 patients with progressive glioblastoma treated with Anktiva are still alive, although the median overall survival has yet to be determined, indicating the therapy's potential.
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Analyst Views on IBRX
Wall Street analysts forecast IBRX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IBRX is 7.33 USD with a low forecast of 5.00 USD and a high forecast of 9.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 6.150
Low
5.00
Averages
7.33
High
9.00
Current: 6.150
Low
5.00
Averages
7.33
High
9.00
About IBRX
Immunitybio, Inc. is a vertically integrated, clinical-stage biotechnology company developing therapies and vaccines that bolster the natural immune system to defeat cancers and infectious diseases. Using its applied science and platforms to treat cancers, including the development of potential cancer vaccines, as well as developing immunotherapies and cell therapies to reduce or eliminate the need for standard high-dose chemotherapy. Its platforms and their associated product candidates are designed to attack cancer and infectious pathogens by activating both the innate immune system, including NK cells, dendritic cells, and macrophages, as well as the adaptive immune system comprising B and T cells, in an orchestrated manner. Its platforms for the development of biologic product candidates include antibody-cytokine fusion proteins, vaccine vectors, and cell therapies. Its biologic commercial product candidate, Anktiva, is an IL-15 superagonist antibody-cytokine fusion protein.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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