ImmunityBio Shares Surge 17% on FDA Update
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: Fool
- FDA Discussion Progress: ImmunityBio's stock surged 17.39% following FDA end-of-phase discussions regarding label expansion for ANKTIVA in bladder cancer, indicating strong market optimism about potential future approvals.
- Surge in Trading Volume: Today's trading volume reached 209.3 million shares, approximately 1,000% above the three-month average, reflecting heightened investor interest and engagement in the company's future prospects.
- Stock Price Volatility: Since its IPO, ImmunityBio's stock has fallen 81%, yet it has doubled in price over the past five days, suggesting a market reassessment of its product potential, though volatility remains a concern for investors.
- Sales Growth Potential: ANKTIVA's sales have grown by triple digits, albeit from a small base, and its expanding list of potential indications and geographic markets presents significant upside for the company, attracting investor attention.
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: 6.450
Low
5.00
Averages
7.33
High
9.00
Current: 6.450
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.
