Market News

Amyris & ImmunityBio Conclude Joint Venture; Shares Jump

Biotech firm Amyris, Inc. (NASDAQ: AMRS) and ImmunityBio (NASDAQ: IBRX), a clinical-stage immunotherapy company, have concluded their joint venture (JV) agreement to support the commercialization of a next-generation COVID-19 vaccine. 

Following the news, shares of Amyris rose 8.3% to close at $5.86 on Monday, while shares of ImmunityBio had jumped 24% at the close. 

Background 

Amyris and ImmunityBio will combine their vaccine technology with their manufacturing capabilities. Notably, upon completion of successful human trials and regulatory approval, the joint venture aims to deliver the second-generation vaccine in 2022 to underserved parts of the world, where cost and supply-chain limitations have made access to current vaccine technology challenging. 

Official Comments 

Global Chief Scientific and Medical Officer at ImmunityBio, Patrick Soon-Shiong, said, “We are pleased to combine our expertise in human trials, T-Cell technology and our access to RNA manufacturing capacity with the Amyris and Infectious Disease Research Institute (IDRI) RNA technology platform and Amyris’ adjuvant technology. Combined we have a real opportunity to provide true immunity against COVID-19 variants along with a platform that can quickly adapt to a future potential respiratory virus. We are focused on completing human trials and delivering vaccines in 2022.” 

Analyst Recommendation

Amit Dayal of H.C. Wainwright recently maintained a Buy rating on Amyris and a price target of $30 (412% upside potential). 

Dayal expects Amyris to record a loss per share of $0.11 in the fourth quarter of 2021. 

Consensus among analysts is a Strong Buy based on 3 unanimous Buys. The average Amyris price target of $21.33 implies 264% upside potential from current levels. However, shares have fallen 16.5% over the past year. 

Bloggers Weigh In 

TipRanks data shows that financial blogger opinions are 71% Bullish on AMRS, compared to a sector average of 70%.

Download the mobile app now, available on iOS and Android

Related News: 
Apple Secures Top Spot for Phone Sales in China – Report 
Tesla Records Over 300,000 Deliveries in Q4, Beats Expectations 
Li Auto December Deliveries Jumps 130%

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More