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About

ImmunityBio, Inc., a biotechnology company, focuses on innovating, developing, and commercializing next-generation immunotherapies designed to activate the patient's immune system and deliver durable protection against cancer and infectious diseases. Its platforms for the development of biologic products and product candidates that include cytokine fusion proteins, DNA and vaccine vectors, and cell therapies. The company's platform has generated first-in-human therapeutic agents that are planned to be studied in clinical trials in liquid and solid tumors. Its lead biologic product candidate includes Anktiva, an FDA-approved immunotherapy in combination with bacillus calmette-guérin (BCG) for the treatment of adult patients with BCG unresponsive non-muscle invasive bladder cancer with carcinoma in situ, with or without papillary tumors; and 3M-052, a synthetic TLR7/8 agonist and 3M-052 formulations and related technology. The company has collaboration agreements with National Cancer Institute; Serum Institute of India Private Limited; and BeOne Medicines Ltd. It has license agreement with 3M Innovative Properties Company and Access to Advanced Health Institute. ImmunityBio, Inc. is based in San Diego, California.

Fundamentals
Scroll to Statements
Sector Healthcare Industry Biotechnology Market Cap 11.38B
Enterprise Value 11.98B Income -351.40M Sales 113.29M
Book/sh -0.53 Cash/sh 0.26 Dividend Yield —
Payout 0.00% Employees — IPO —
P/E — Forward P/E 288.75 PEG —
P/S 100.42 P/B -21.71 P/C —
EV/EBITDA -52.90 EV/Sales 105.75 Quick Ratio —
Current Ratio — Debt/Eq — LT Debt/Eq —
EPS (ttm) -0.41 EPS next Y 0.04 EPS Growth —
Revenue Growth 4.07% Earnings 2026-05-11 ROA —
ROE — ROIC — Gross Margin 99.33%
Oper. Margin -132.38% Profit Margin 0.00% Shs Outstand 984.97M
Shs Float 336.17M Short Float 40.85% Short Ratio 2.79
Short Interest — 52W High 12.28 52W Low 1.83
Beta 0.02 Avg Volume 30.23M Volume 82.29M
Target Price $12.60 Recom Strong_buy Prev Close $9.83
Price $11.55 Change 17.50%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$12.60
Mean price target
2. Current target
$11.55
Latest analyst target
3. DCF / Fair value
$12.60
Proxy: analyst mean price target (no FCF/EPS data available).
Ratings
Current target
$11.55
Low
$7.00
High
$23.00
Mean
$12.60

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-23 main D. Boral Capital Buy → Buy $23
2026-02-23 main HC Wainwright & Co. Buy → Buy $15
2026-02-19 main D. Boral Capital Buy → Buy $24
2026-02-17 main D. Boral Capital Buy → Buy $24
2026-01-26 main HC Wainwright & Co. Buy → Buy $10
2026-01-23 main D. Boral Capital Buy → Buy $24
2026-01-23 main BTIG Buy → Buy $9
2026-01-20 main Piper Sandler Overweight → Overweight $7
2026-01-20 main D. Boral Capital Buy → Buy $24
2026-01-16 main D. Boral Capital Buy → Buy $24
2026-01-13 main D. Boral Capital Buy → Buy $24
2025-12-16 main D. Boral Capital Buy → Buy $24
2025-12-12 main Jefferies Buy → Buy $9
2025-12-12 main D. Boral Capital Buy → Buy $24
2025-12-11 main D. Boral Capital Buy → Buy $24
2025-11-13 main D. Boral Capital Buy → Buy $24
2025-11-05 main D. Boral Capital Buy → Buy $24
2025-09-10 reit HC Wainwright & Co. Buy → Buy $8
2025-09-08 main D. Boral Capital Buy → Buy $24
2025-08-26 main D. Boral Capital Buy → Buy $24
Insider Transactions
Date Shares Url Text Insider Position Transaction Start Date Ownership Value
0 274122 — — SOON-SHIONG PATRICK Officer, Director and Beneficial Owner — 2026-02-10 00:00:00 D nan
1 274122 — — ADCOCK RICHARD Chief Executive Officer — 2026-02-10 00:00:00 D nan
2 82236 — — SACHS DAVID C Chief Financial Officer — 2026-02-10 00:00:00 D nan
3 5482 — — LAUER REGAN J Officer — 2026-02-10 00:00:00 D nan
4 151967 — Sale at price 6.48 - 6.54 per share. SIMON BARRY J. M.D. Director — 2026-01-20 00:00:00 D 989364.0
5 75000 — Sale at price 5.00 - 7.51 per share. SELECKY CHRISTOBEL E. Director — 2026-01-20 00:00:00 D 437650.0
6 75000 — Conversion of Exercise of derivative security at price 2.98 per share. SELECKY CHRISTOBEL E. Director — 2026-01-20 00:00:00 D 223500.0
7 34483 — — ADCOCK RICHARD Officer and Director — 2025-12-31 00:00:00 D nan
8 30397 — — SACHS DAVID C Chief Financial Officer — 2025-12-31 00:00:00 D nan
9 114329 — — SOON-SHIONG PATRICK Officer, Director and Beneficial Owner — 2025-02-21 00:00:00 D nan
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems0.00-3.30K1.47M-1.33M
TaxRateForCalcs0.000.000.210.27
NormalizedEBITDA-303.44M-394.24M-358.86M-315.82M
TotalUnusualItems39.01M-48.22M6.98M-4.94M
TotalUnusualItemsExcludingGoodwill39.01M-48.22M6.98M-4.94M
NetIncomeFromContinuingOperationNetMinorityInterest-413.56M-583.20M-416.57M-346.79M
ReconciledDepreciation17.55M18.51M18.26M14.24M
ReconciledCostOfRevenue0.000.000.00
EBITDA-264.43M-478.66M-351.88M-320.75M
EBIT-281.99M-497.18M-370.14M-334.99M
NetInterestIncome-151.93M-128.34M-60.81M-14.01M
InterestExpense131.66M86.72M47.15M14.85M
InterestIncome2.40M863.00K2.71M836.00K
NormalizedIncome-452.57M-534.98M-422.08M-343.19M
NetIncomeFromContinuingAndDiscontinuedOperation-413.56M-583.20M-416.57M-346.79M
TotalExpenses358.93M361.99M350.86M331.21M
TotalOperatingIncomeAsReported-344.18M-362.25M-351.30M-330.28M
DilutedAverageShares700.44M508.64M399.90M389.23M
BasicAverageShares697.31M508.64M399.90M389.23M
DilutedEPS-0.62-1.15-1.04-0.89
BasicEPS-0.59-1.15-1.04-0.89
DilutedNIAvailtoComStockholders-413.56M-583.20M-416.57M-346.79M
NetIncomeCommonStockholders-413.56M-583.20M-416.57M-346.79M
NetIncome-413.56M-583.20M-416.57M-346.79M
MinorityInterests81.00K656.00K753.00K3.06M
NetIncomeIncludingNoncontrollingInterests-413.64M-583.85M-417.32M-349.85M
NetIncomeContinuousOperations-413.64M-583.85M-417.32M-349.85M
TaxProvision0.00-40.00K34.00K9.00K
PretaxIncome-413.64M-583.89M-417.29M-349.84M
OtherIncomeExpense82.46M-94.19M-5.86M-5.55M
OtherNonOperatingIncomeExpenses43.46M-38.43M-736.00K193.00K
SpecialIncomeCharges0.00-886.00K-681.00K0.00
ImpairmentOfCapitalAssets0.00886.00K681.00K0.00
SecuritiesAmortization-1.84M1.49M488.00K
EarningsFromEquityInterest0.00-7.55M-12.11M-803.00K
GainOnSaleOfSecurity39.01M-47.33M7.66M-4.94M
NetNonOperatingInterestIncomeExpense-151.93M-128.34M-60.81M-14.01M
TotalOtherFinanceCost22.67M42.48M16.37M
InterestExpenseNonOperating131.66M86.72M47.15M14.85M
InterestIncomeNonOperating2.40M863.00K2.71M836.00K
OperatingIncome-344.18M-361.36M-350.62M-330.28M
OperatingExpense358.93M361.99M350.86M331.21M
ResearchAndDevelopment190.14M232.37M248.15M195.96M
SellingGeneralAndAdministration168.78M129.62M102.71M135.26M
GrossProfit14.74M622.00K240.00K
CostOfRevenue0.000.000.00
TotalRevenue14.74M622.00K240.00K934.00K
OperatingRevenue14.15M0.000.00934.00K
Line Item2024-12-312023-12-312022-12-312021-12-31
TreasurySharesNumber163.80K163.80K163.80K163.80K
OrdinarySharesNumber852.90M670.87M421.57M397.83M
ShareIssued853.07M671.03M421.73M397.99M
NetDebt318.45M416.08M568.53M424.48M
TotalDebt504.17M726.72M723.77M645.66M
TangibleBookValue-505.03M-604.08M-467.33M-243.59M
InvestedCapital-27.22M94.55M225.84M363.41M
WorkingCapital129.64M235.80M-360.28M-34.65M
NetTangibleAssets-505.03M-604.08M-467.33M-243.59M
CapitalLeaseObligations42.29M45.19M50.60M40.08M
CommonStockEquity-489.10M-586.99M-447.33M-242.17M
TotalCapitalization-27.22M94.55M-206.06M64.18M
TotalEquityGrossMinorityInterest-488.13M-585.94M-449.82M-243.91M
MinorityInterest969.00K1.05M-2.49M-1.74M
StockholdersEquity-489.10M-586.99M-447.33M-242.17M
GainsLossesNotAffectingRetainedEarnings1.20M10.00K183.00K4.00K
RetainedEarnings-3.38B-2.96B-2.38B-1.96B
AdditionalPaidInCapital2.88B2.37B1.93B1.72B
CapitalStock85.00K67.00K42.00K40.00K
CommonStock85.00K67.00K42.00K40.00K
TotalLiabilitiesNetMinorityInterest871.06M1.09B812.18M712.82M
TotalNonCurrentLiabilitiesNetMinorityInterest816.12M1.03B311.31M343.83M
OtherNonCurrentLiabilities285.04M156.52M457.00K411.00K
DerivativeProductLiabilities34.38M154.10M21.64M0.00
NonCurrentDeferredLiabilities162.00K
NonCurrentDeferredTaxesLiabilities162.00K
LongTermDebtAndCapitalLeaseObligation496.70M721.48M289.22M343.42M
LongTermCapitalLeaseObligation34.82M39.94M47.95M37.07M
LongTermDebt461.88M681.54M241.27M306.35M
CurrentLiabilities54.94M58.28M500.86M369.00M
OtherCurrentLiabilities952.00K716.00K1.63M2.60M
CurrentDebtAndCapitalLeaseObligation7.47M5.24M434.55M302.25M
CurrentCapitalLeaseObligation7.47M5.24M2.65M3.01M
CurrentDebt431.90M299.24M
OtherCurrentBorrowings431.90M299.24M
CurrentNotesPayable299.24M
PensionandOtherPostRetirementBenefitPlansCurrent15.03M17.59M18.11M13.93M
PayablesAndAccruedExpenses31.50M34.73M46.57M50.22M
CurrentAccruedExpenses24.60M24.40M22.09M34.86M
Payables6.90M10.33M24.48M15.36M
DuetoRelatedPartiesCurrent173.00K1.14M3.47M3.94M
AccountsPayable6.72M9.20M21.02M11.42M
TotalAssets382.93M504.45M362.36M468.91M
TotalNonCurrentAssets198.35M210.37M221.78M134.56M
OtherNonCurrentAssets4.83M2.88M4.86M
NonCurrentNoteReceivables7.13M6.88M6.63M6.38M
InvestmentsAndAdvances0.00891.00K840.00K7.60M
OtherInvestments4.86M6.78M
InvestmentinFinancialAssets0.00891.00K840.00K822.00K
AvailableForSaleSecurities891.00K840.00K822.00K
LongTermEquityInvestment840.00K822.00K
GoodwillAndOtherIntangibleAssets15.93M17.09M20.00M1.42M
OtherIntangibleAssets15.93M17.09M20.00M1.42M
NetPPE170.46M182.62M189.45M119.17M
AccumulatedDepreciation-99.59M-84.38M-69.25M-53.07M
GrossPPE270.05M267.00M258.70M172.24M
Leases73.13M72.55M68.71M62.48M
ConstructionInProgress86.42M84.44M72.69M16.57M
OtherProperties106.94M106.46M113.73M90.59M
MachineryFurnitureEquipment3.56M3.56M3.56M2.60M
BuildingsAndImprovements0.00
Properties0.000.000.000.00
CurrentAssets184.59M294.08M140.58M334.35M
OtherCurrentAssets1.30M2.62M2.90M2.96M
PrepaidAssets22.55M21.83M28.60M12.94M
Inventory8.27M0.00
FinishedGoods767.00K0.00
WorkInProcess7.50M0.00
RawMaterials0.000.00
Receivables2.65M3.17M1.89M1.33M
OtherReceivables1.15M
DuefromRelatedPartiesCurrent293.00K2.02M1.89M1.33M
AccountsReceivable2.36M0.00
CashCashEquivalentsAndShortTermInvestments149.81M266.46M107.18M317.12M
OtherShortTermInvestments6.38M1.01M2.54M136.01M
CashAndCashEquivalents143.43M265.45M104.64M181.10M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow-398.12M-397.34M-436.90M-307.98M
RepurchaseOfCapitalStock0.00
RepaymentOfDebt-64.00K-77.00K-58.00K0.00
IssuanceOfDebt0.00258.70M174.12M338.50M
IssuanceOfCapitalStock111.36M110.10M60.43M164.53M
CapitalExpenditure-6.89M-30.58M-99.39M-33.56M
InterestPaidSupplementalData92.32M77.19M35.44M2.11M
IncomeTaxPaidSupplementalData15.00K8.00K2.00K9.00K
EndCashPosition143.91M265.79M104.97M181.28M
BeginningCashPosition265.79M104.97M181.28M35.09M
EffectOfExchangeRateChanges-23.00K-292.00K284.00K48.00K
ChangesInCash-121.85M161.11M-76.60M146.14M
FinancingCashFlow281.63M558.34M233.61M505.44M
CashFlowFromContinuingFinancingActivities281.63M558.34M233.61M505.44M
NetOtherFinancingCharges96.96M192.76M-339.00K1.02M
ProceedsFromStockOptionExercised73.38M-3.15M-542.00K1.40M
NetCommonStockIssuance111.36M110.10M60.43M164.53M
CommonStockPayments0.00
CommonStockIssuance111.36M110.10M60.43M164.53M
NetIssuancePaymentsOfDebt-64.00K258.62M174.07M338.50M
NetShortTermDebtIssuance258.70M174.12M338.50M
ShortTermDebtIssuance258.70M174.12M338.50M
NetLongTermDebtIssuance-64.00K258.62M174.07M0.00
LongTermDebtPayments-64.00K-77.00K-58.00K0.00
LongTermDebtIssuance0.00258.70M174.12M338.50M
InvestingCashFlow-12.25M-30.47M27.30M-84.89M
CashFlowFromContinuingInvestingActivities-12.25M-30.47M27.30M-84.89M
NetOtherInvestingChanges-1.00M
NetInvestmentPurchaseAndSale-4.36M114.00K127.69M-71.82M
SaleOfInvestment136.61M10.47M162.00M69.93M
PurchaseOfInvestment-140.97M-10.36M-34.31M-141.75M
NetBusinessPurchaseAndSale0.000.00-1.00M0.00
PurchaseOfBusiness0.000.00-1.00M0.00
NetIntangiblesPurchaseAndSale0.000.00-21.23M0.00
PurchaseOfIntangibles0.000.00-21.23M0.00
NetPPEPurchaseAndSale-6.89M-30.58M-78.16M-13.06M
SaleOfPPE0.000.0020.50M
PurchaseOfPPE-6.89M-30.58M-78.16M-33.56M
OperatingCashFlow-391.24M-366.76M-337.51M-274.42M
CashFlowFromContinuingOperatingActivities-391.24M-366.76M-337.51M-274.42M
ChangeInWorkingCapital-19.42M3.98M-8.00M-19.11M
ChangeInOtherWorkingCapital763.00K-1.13M-1.23M-10.19M
ChangeInOtherCurrentLiabilities-5.47M-2.98M-4.32M-4.16M
ChangeInOtherCurrentAssets-1.11M1.91M2.00M-3.98M
ChangeInPayablesAndAccruedExpense-4.67M213.00K12.10M1.47M
ChangeInAccruedExpense-1.51M6.69M4.10M5.18M
ChangeInPayable-3.17M-6.48M8.00M-3.72M
ChangeInAccountPayable-3.17M-6.48M8.00M-3.72M
ChangeInPrepaidAssets1.70M5.96M-16.56M-2.25M
ChangeInInventory-8.27M0.000.00
ChangeInReceivables-2.36M0.000.00
ChangesInAccountReceivables-2.36M0.000.00
OtherNonCashItems24.13M95.50M35.31M18.10M
StockBasedCompensation34.43M49.16M40.18M57.18M
UnrealizedGainLossOnInvestmentSecurities632.00K1.59M4.19M4.62M
AssetImpairmentCharge0.00886.00K2.01M0.00
AmortizationOfSecurities-1.49M-137.00K1.32M403.00K
DeferredTax-4.00K-8.00K
DeferredIncomeTax-4.00K-8.00K
DepreciationAmortizationDepletion17.55M18.51M18.26M14.24M
DepreciationAndAmortization17.55M18.51M18.26M14.24M
OperatingGainsLosses-33.43M47.60M-13.46M803.00K
EarningsLossesFromEquityInvestments803.00K
GainLossOnInvestmentSecurities-33.43M47.60M-13.46M
NetIncomeFromContinuingOperations-413.64M-583.85M-417.32M-349.85M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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