ImmunityBio (IBRX) AI Stock Analysis

• Market Cap: $2.07B
• Dividend Yield: N/A
• Average Volume (3M): 12.43M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.19
• Revenue Growth: 1025.95%
• EPS Growth: 52.91%
• Country: US
• Employees: 671
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.07
• Shares Outstanding: 984,965,150
• 10 Day Avg. Volume: 16,994,043
• 30 Day Avg. Volume: 12,432,036
• PEG Ratio: 0.09
• Price to Book (P/B): -3.66
• Price to Sales (P/S): 121.07
• P/FCF Ratio: -4.48
• Enterprise Value/Market Cap: 1.42
• Enterprise Value/Revenue: 35.53
• Enterprise Value/Gross Profit: 37.49
• Enterprise Value/Ebitda: -12.61
• 1Y Price Target: $7.33
• Price Target Upside: 249.05% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: $2.00 ▼(-4.76% Downside)

ImmunityBio's overall stock score is primarily impacted by its financial instability and lack of profitability, reflected in a low financial performance score. The technical analysis indicates bearish momentum, further weighing down the score. However, positive corporate events, such as the EMA nod for ANKTIVA® and strategic board appointment, provide some optimism for future growth and market positioning.

Positive Factors

Revenue Growth

Strong revenue growth indicates increasing demand for ImmunityBio's products, enhancing its market position and potential for future profitability.

Regulatory Approval

EMA approval for ANKTIVA® enhances ImmunityBio's market access in Europe, addressing unmet medical needs and potentially boosting long-term revenue.

Product Efficacy

The demonstrated efficacy of Anktiva plus BCG supports its clinical value, potentially leading to broader adoption and sustained revenue growth.

Negative Factors

Financial Stability

Negative equity and high leverage reflect financial instability, which can limit ImmunityBio's ability to invest in growth and innovation.

Profitability Challenges

Ongoing profitability challenges may hinder ImmunityBio's ability to sustain operations and invest in future growth, impacting long-term viability.

Cash Flow Issues

Negative cash flows indicate potential liquidity issues, which could constrain ImmunityBio's operational flexibility and ability to fund new initiatives.

ImmunityBio Business Overview & Revenue Model

Company Description

ImmunityBio, Inc., a clinical-stage biotechnology company, develops therapies and vaccines to treat cancers and infectious diseases. It offers immunotherapy and cell therapy platforms, including antibody cytokine fusion proteins, synthetic immunomodulators, vaccine technologies, natural killer cells, and adaptive (T cell) immune systems. The company also develops therapeutic agents, which are in Phase II or III clinical trial for the treatment of liquid and solid tumors, including bladder, pancreatic, and lung cancers, as well as pathogens as SARS-CoV-2 and HIV. It has collaboration agreements with National Cancer Institute, National Institute of Deafness and Communication Disorders, and Amyris, Inc.; and license agreements with CytRx Corporation, EnGeneIC Pty Limited, GlobeImmune, Inc., and Infectious Disease Research Institute, Sanford Health, Shenzhen Beike Biotechnology Co. Ltd., Sorrento Therapeutics, Inc., and Viracta Therapeutics, Inc. The company was founded in 2014 and is based in San Diego, California.

How the Company Makes Money

ImmunityBio generates revenue through a combination of product sales, collaborations, and partnerships. The company is actively engaged in clinical trials to develop its immunotherapy products, which, upon successful commercialization, can lead to significant revenue from sales. Additionally, ImmunityBio enters into strategic collaborations and licensing agreements with larger pharmaceutical companies, which may provide upfront payments, milestone payments based on clinical development progress, and royalties on future product sales. The company may also secure funding through grants and government contracts aimed at supporting innovative therapies, further contributing to its revenue streams.

ImmunityBio Financial Statement Overview

Summary

ImmunityBio is experiencing strong revenue growth but faces significant profitability and financial stability challenges. The negative equity and high leverage are concerning, and cash flow issues persist despite some improvement in free cash flow growth. The company needs to address these challenges to improve its financial health.

Income Statement

ImmunityBio shows significant revenue growth in the TTM period, with a 45.86% increase. However, the company is struggling with profitability, as indicated by negative net profit margins and EBIT margins. The gross profit margin is high, but the net income remains negative, reflecting ongoing operational challenges.

Balance Sheet

The balance sheet reveals a negative stockholders' equity, indicating financial instability. The debt-to-equity ratio is negative due to negative equity, and the return on equity is also negative, reflecting poor financial health and high leverage.

Cash Flow

Cash flow analysis shows negative operating and free cash flows, with a slight improvement in free cash flow growth. The company has a high free cash flow to net income ratio, but the negative operating cash flow coverage ratio indicates cash flow challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	82.56M	14.74M	622.00K	240.00K	934.00K	605.00K
Gross Profit	78.23M	14.74M	622.00K	240.00K	934.00K	605.00K
EBITDA	-232.64M	-264.43M	-478.66M	-351.88M	-320.75M	-204.22M
Net Income	-348.62M	-413.56M	-583.20M	-416.57M	-346.79M	-221.85M
Balance Sheet
Total Assets	0.00	382.93M	504.45M	362.36M	468.91M	221.38M
Cash, Cash Equivalents and Short-Term Investments	153.66M	149.81M	266.46M	107.18M	317.12M	96.06M
Total Debt	0.00	504.17M	726.72M	723.77M	645.66M	275.55M
Total Liabilities	569.82M	871.06M	1.09B	812.18M	712.82M	339.87M
Stockholders Equity	-569.82M	-489.10M	-586.99M	-447.33M	-242.17M	-119.81M
Cash Flow
Free Cash Flow	-324.01M	-398.12M	-397.34M	-415.67M	-307.98M	-173.39M
Operating Cash Flow	-319.70M	-391.24M	-366.76M	-337.51M	-274.42M	-171.72M
Investing Cash Flow	-183.54M	-12.25M	-30.47M	27.30M	-84.89M	-19.81M
Financing Cash Flow	452.28M	281.63M	558.34M	233.61M	505.44M	150.68M

ImmunityBio Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.10
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IBRX, the sentiment is Negative. The current price of 2.1 is below the 20-day moving average (MA) of 2.21, below the 50-day MA of 2.25, and below the 200-day MA of 2.55, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 45.77 is Neutral, neither overbought nor oversold. The STOCH value of 30.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IBRX.

ImmunityBio Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CPRX	83 Outperform	$2.98B	14.14	27.52%	―	25.56%	44.42%
ARQT	60 Neutral	$3.59B	-82.68	-28.17%	―	129.21%	80.35%
BEAM	58 Neutral	$2.82B	―	-47.19%	―	-84.07%	-157.71%
IMCR	53 Neutral	$1.83B	―	-7.52%	―	27.51%	38.72%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
IBRX	48 Neutral	$2.07B	-4.99	―	―	1025.95%	52.91%
IMVT	45 Neutral	$5.39B	-9.46	-95.93%	―	―	-27.70%

ImmunityBio Corporate Events

ImmunityBio Appoints Bruce Wendel to Board

On December 10, 2025, ImmunityBio, Inc. appointed Bruce Wendel to its Board of Directors, effective December 12, 2025, with his term expiring at the 2026 annual stockholders meeting. Wendel, recognized as an independent director, brings extensive experience from his previous roles in the pharmaceutical industry, including leadership positions at ProMetic Biosciences Ltd. and Hepalink USA. His appointment is expected to strengthen ImmunityBio’s strategic direction and industry positioning.

ImmunityBio Gains EMA Nod for ANKTIVA® in Europe

On December 12, 2025, ImmunityBio announced that the European Medicines Agency recommended conditional marketing authorization for ANKTIVA® in combination with BCG for treating non-muscle invasive bladder cancer (NMIBC) carcinoma in situ in Europe. This recommendation marks the first immunotherapy for NMIBC with carcinoma in situ to receive such a positive recommendation in Europe, addressing a significant unmet need for patients unresponsive to BCG, whose primary option has been bladder removal surgery. The decision is based on a single-arm trial showing promising response rates, and it highlights ImmunityBio’s efforts to expand access to innovative treatments in Europe, potentially impacting the company’s market positioning and offering new hope for patients.