ImmunityBio (IBRX) AI Stock Analysis

• Market Cap: $2.40B
• Dividend Yield: N/A
• Average Volume (3M): 10.06M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.10
• Revenue Growth: 4227.22%
• EPS Growth: 50.80%
• Country: US
• Employees: 671
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.10
• Shares Outstanding: 945,254,700
• 10 Day Avg. Volume: 11,861,857
• 30 Day Avg. Volume: 10,061,585
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.26
• Enterprise Value/Revenue: 53.62
• Enterprise Value/Gross Profit: 53.80
• Enterprise Value/Ebitda: -16.63
• 1Y Price Target: $7.00
• Price Target Upside: 175.59% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 49 Neutral
• Price Target: $2.50 ▼(-1.57% Downside)

ImmunityBio's overall stock score is primarily impacted by its financial struggles, including negative profitability and liquidity issues. Technical indicators provide a neutral outlook, while valuation remains challenging due to negative earnings. The absence of earnings call insights and corporate events leaves these factors unaddressed.

Positive Factors

Revenue Growth

Strong revenue growth indicates increasing demand for ImmunityBio's products, suggesting potential for future market expansion and product adoption.

Product Innovation

ImmunityBio's focus on innovative immunotherapy treatments positions it well in the biotechnology industry, potentially leading to breakthroughs in cancer and infectious disease treatment.

High Gross Profit Margin

A high gross profit margin suggests efficient cost management at the production level, which can support profitability as the company scales.

Negative Factors

Negative Profit Margins

Negative profit margins indicate ongoing financial struggles, which could hinder the company's ability to invest in growth and innovation over the long term.

High Debt Reliance

Heavy reliance on debt financing poses a risk to financial stability, especially given the company's ongoing losses, potentially limiting future financial flexibility.

Cash Flow Challenges

Negative cash flows highlight liquidity issues, which may impact the company's ability to sustain operations and invest in R&D, crucial for long-term success in biotechnology.

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 primarily through the development and commercialization of its therapeutic products, which includes potential licensing agreements and collaborations with other pharmaceutical companies. Key revenue streams include milestone payments from partnerships, government grants for research and development, and the eventual sale of approved therapies. The company may also engage in public and private equity financing to support its research initiatives. Significant partnerships with larger biopharmaceutical companies may also contribute to its earnings, particularly if those collaborations lead to successful product development and commercialization.

ImmunityBio Financial Statement Overview

Summary

ImmunityBio faces significant financial challenges, with negative net profit margins and high debt reliance. Despite strong revenue growth, the company remains unprofitable, with liquidity concerns due to negative cash flows and negative equity.

Income Statement

ImmunityBio's income statement shows significant challenges, with consistently negative net profit margins and EBIT margins over the years. Despite a notable revenue growth rate of 81.28% in the TTM, the company remains unprofitable, with a TTM net profit margin of -6.49%. The high gross profit margin of 99.66% in the TTM indicates efficient cost management at the gross level, but the substantial operating losses overshadow this strength.

Balance Sheet

The balance sheet reflects a precarious financial position, with negative stockholders' equity and a high debt-to-equity ratio of -0.94 in the TTM. This indicates that the company is heavily reliant on debt financing, which poses a risk given its ongoing losses. The return on equity is positive at 61.30% in the TTM, but this is due to the negative equity, which distorts the metric.

Cash Flow

Cash flow analysis reveals ongoing challenges, with negative operating and free cash flows. The free cash flow to net income ratio is slightly above 1, indicating that cash flow is somewhat aligned with net income, albeit both are negative. The TTM operating cash flow coverage ratio of -6.90 highlights the company's inability to cover its net income with operating cash flow, underscoring liquidity concerns.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	56.60M	14.74M	622.00K	240.00K	934.00K	605.00K
Gross Profit	56.41M	14.74M	622.00K	-23.95M	934.00K	-8.54M
EBITDA	-182.49M	-241.76M	-436.18M	-335.51M	-315.38M	-187.93M
Net Income	-367.09M	-413.56M	-583.20M	-417.32M	-349.85M	-224.19M
Balance Sheet
Total Assets	402.08M	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	535.32M	504.17M	726.72M	723.77M	645.66M	275.55M
Total Liabilities	971.89M	871.06M	1.09B	812.18M	712.82M	339.87M
Stockholders Equity	-570.75M	-488.13M	-586.99M	-447.33M	-242.17M	-119.81M
Cash Flow
Free Cash Flow	-356.66M	-398.12M	-397.34M	-436.90M	-307.98M	-173.39M
Operating Cash Flow	-349.56M	-391.24M	-366.76M	-337.51M	-274.42M	-171.72M
Investing Cash Flow	62.85M	-12.25M	-30.47M	27.30M	-84.89M	-19.81M
Financing Cash Flow	294.34M	281.63M	558.34M	233.61M	505.44M	150.68M

ImmunityBio Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.54
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 2.54 is below the 20-day moving average (MA) of 2.56, above the 50-day MA of 2.53, and below the 200-day MA of 2.78, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 48.71 is Neutral, neither overbought nor oversold. The STOCH value of 13.56 is Positive, 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	78 Outperform	2.39B	11.84	22.52%	―	28.55%	196.96%
IMCR	64 Neutral	1.71B	-82.25	-5.23%	―	26.90%	62.72%
ARQT	58 Neutral	2.11B	-23.60	-67.11%	―	99.50%	65.91%
BEAM	50 Neutral	2.32B	-5.09	-38.08%	―	-82.90%	-155.64%
IBRX	49 Neutral	$2.40B	―	78.99%	―	4227.22%	50.80%
IMVT	45 Neutral	2.83B	-5.70	―	―	―	-48.38%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

ImmunityBio Corporate Events

ImmunityBio’s Shareholder Settlement Gains Preliminary Approval

On July 29, 2025, the United States District Court for the Southern District of California preliminarily approved a proposed settlement of shareholder derivative actions against ImmunityBio‘s individual defendants. The settlement includes corporate governance reforms and attorneys’ fees covered by insurance, with a final approval hearing set for November 4, 2025. The derivative actions alleged breaches of fiduciary duties and misleading statements by ImmunityBio’s officers regarding manufacturing practices, impacting the company’s stock price and leading to a related securities fraud class action.

ImmunityBio Announces $80 Million Securities Purchase

On July 24, 2025, ImmunityBio, Inc. announced a securities purchase agreement to sell 29,629,632 shares of its common stock and warrants for an additional 29,629,632 shares, generating approximately $80 million in gross proceeds. The offering is expected to close around July 28, 2025, with Piper Sandler & Co. as the exclusive placement agent. In its Q2 2025 financial results, ImmunityBio reported a 60% increase in revenue to $26.4 million, driven by strong sales of ANKTIVA in BCG-unresponsive bladder cancer. The company also highlighted significant clinical progress, including the initiation of a randomized trial for lung cancer and regulatory discussions on lymphopenia and papillary NMIBC treatments.

ImmunityBio Approves 2025 Equity Incentive Plan

On June 18, 2025, ImmunityBio, Inc. held its Annual Meeting of Stockholders, where the 2025 Equity Incentive Plan was approved, replacing the 2015 Plan. This strategic move aims to better compete for and motivate key talent through equity-based awards, aligning the interests of employees and stockholders. Additionally, eight directors were re-elected, and Deloitte & Touche LLP’s appointment as the independent registered public accounting firm for 2025 was ratified.