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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 9.07B
Enterprise Value 9.67B Income -351.40M Sales 113.29M
Book/sh -0.49 Cash/sh 0.24 Dividend Yield
Payout 0.00% Employees 684 IPO
P/E Forward P/E -441.00 PEG
P/S 80.04 P/B -17.82 P/C
EV/EBITDA -40.19 EV/Sales 85.36 Quick Ratio 4.62
Current Ratio 5.10 Debt/Eq LT Debt/Eq
EPS (ttm) -0.38 EPS next Y -0.02 EPS Growth
Revenue Growth 4.07% Earnings 2026-05-11 ROA -36.17%
ROE ROIC Gross Margin 99.33%
Oper. Margin -168.95% Profit Margin 0.00% Shs Outstand 1.03B
Shs Float 379.46M Short Float 35.41% Short Ratio 3.55
Short Interest 52W High 12.43 52W Low 1.83
Beta -0.08 Avg Volume 36.92M Volume 17.69M
Target Price $14.80 Recom Strong_buy Prev Close $8.56
Price $8.82 Change 3.04%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$14.80
Mean price target
2. Current target
$8.82
Latest analyst target
3. DCF / Fair value
$-3.74
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$8.82
Low
$11.00
High
$23.00
Mean
$14.80

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-17 main D. Boral Capital Buy → Buy $23
2026-03-09 main D. Boral Capital Buy → Buy $23
2026-03-04 reit Piper Sandler Overweight → Overweight $12
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
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 75000 900788.0 Sale at price 12.01 per share. SIMON BARRY J. M.D. Director 2026-02-24 00:00:00 D
1 175000 1783602.0 Sale at price 9.25 - 10.25 per share. SIMON BARRY J. M.D. Director 2026-02-23 00:00:00 D
2 25000 250000.0 Sale at price 10.00 per share. SELECKY CHRISTOBEL E. Director 2026-02-23 00:00:00 D
3 25000 74500.0 Conversion of Exercise of derivative security at price 2.98 per share. SELECKY CHRISTOBEL E. Director 2026-02-23 00:00:00 D
4 15243 nan SIMON BARRY J. M.D. Director 2026-02-20 00:00:00 D
5 152439 nan ADCOCK RICHARD Chief Executive Officer 2026-02-20 00:00:00 D
6 40650 nan SACHS DAVID C Chief Financial Officer 2026-02-20 00:00:00 D
7 4065 nan LAUER REGAN J Officer 2026-02-20 00:00:00 D
8 114329 nan SOON-SHIONG PATRICK Officer, Director and Beneficial Owner 2026-02-20 00:00:00 D
9 274122 nan ADCOCK RICHARD Chief Executive Officer 2026-02-10 00:00:00 D
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems0.000.00-3.30K1.47M
TaxRateForCalcs0.000.000.000.21
NormalizedEBITDA-282.76M-303.36M-430.36M-358.86M
TotalUnusualItems59.20M39.01M-48.22M6.98M
TotalUnusualItemsExcludingGoodwill59.20M39.01M-48.22M6.98M
NetIncomeFromContinuingOperationNetMinorityInterest-351.40M-413.56M-583.20M-416.57M
ReconciledDepreciation15.53M17.55M18.51M18.26M
ReconciledCostOfRevenue753.00K0.000.000.00
EBITDA-223.56M-264.35M-478.58M-351.88M
EBIT-239.08M-281.90M-497.09M-370.14M
NetInterestIncome-109.84M-151.93M-128.34M-60.81M
InterestExpense112.53M131.74M86.80M47.15M
InterestIncome2.69M2.40M863.00K2.71M
NormalizedIncome-410.60M-452.57M-534.98M-422.08M
NetIncomeFromContinuingAndDiscontinuedOperation-351.40M-413.56M-583.20M-416.57M
TotalExpenses369.31M358.93M361.99M350.86M
TotalOperatingIncomeAsReported-256.03M-344.18M-362.25M-351.30M
DilutedAverageShares919.86M700.44M508.64M399.90M
BasicAverageShares919.86M697.31M508.64M399.90M
DilutedEPS-0.38-0.62-1.15-1.04
BasicEPS-0.38-0.59-1.15-1.04
DilutedNIAvailtoComStockholders-351.40M-413.56M-583.20M-416.57M
NetIncomeCommonStockholders-351.40M-413.56M-583.20M-416.57M
NetIncome-351.40M-413.56M-583.20M-416.57M
MinorityInterests74.00K81.00K656.00K753.00K
NetIncomeIncludingNoncontrollingInterests-351.47M-413.64M-583.85M-417.32M
NetIncomeContinuousOperations-351.47M-413.64M-583.85M-417.32M
TaxProvision-135.00K0.00-40.00K34.00K
PretaxIncome-351.61M-413.64M-583.89M-417.29M
OtherIncomeExpense14.26M82.46M-94.19M-5.86M
OtherNonOperatingIncomeExpenses-44.95M43.46M-38.43M-736.00K
SpecialIncomeCharges0.000.00-886.00K-681.00K
ImpairmentOfCapitalAssets0.000.00886.00K681.00K
SecuritiesAmortization-1.84M1.49M488.00K
EarningsFromEquityInterest0.000.00-7.55M-12.11M
GainOnSaleOfSecurity59.20M39.01M-47.33M7.66M
NetNonOperatingInterestIncomeExpense-109.84M-151.93M-128.34M-60.81M
TotalOtherFinanceCost22.59M42.40M16.37M
InterestExpenseNonOperating112.53M131.74M86.80M47.15M
InterestIncomeNonOperating2.69M2.40M863.00K2.71M
OperatingIncome-256.03M-344.18M-361.36M-350.62M
OperatingExpense368.56M358.93M361.99M350.86M
ResearchAndDevelopment218.56M190.14M232.37M248.15M
SellingGeneralAndAdministration150.00M168.78M129.62M102.71M
GrossProfit112.53M14.74M622.00K240.00K
CostOfRevenue753.00K0.000.000.00
TotalRevenue113.29M14.74M622.00K240.00K
OperatingRevenue112.98M14.15M0.000.00
Line Item2025-12-312024-12-312023-12-312022-12-31
TreasurySharesNumber163.80K163.80K163.80K163.80K
OrdinarySharesNumber1.01B852.90M670.87M421.57M
ShareIssued1.01B853.07M671.03M421.73M
NetDebt388.76M318.45M416.08M568.53M
TotalDebt518.08M504.17M726.72M723.77M
TangibleBookValue-514.42M-505.03M-604.08M-467.33M
InvestedCapital-23.38M-27.22M94.55M225.84M
WorkingCapital253.12M129.64M235.80M-360.28M
NetTangibleAssets-514.42M-505.03M-604.08M-467.33M
CapitalLeaseObligations40.98M42.29M45.19M50.60M
CommonStockEquity-500.47M-489.10M-586.99M-447.33M
TotalCapitalization-23.38M-27.22M94.55M-206.06M
TotalEquityGrossMinorityInterest-499.57M-488.13M-585.94M-449.82M
MinorityInterest895.00K969.00K1.05M-2.49M
StockholdersEquity-500.47M-489.10M-586.99M-447.33M
GainsLossesNotAffectingRetainedEarnings28.96M1.20M10.00K183.00K
OtherEquityAdjustments28.96M1.20M10.00K183.00K
RetainedEarnings-3.73B-3.38B-2.96B-2.38B
AdditionalPaidInCapital3.20B2.88B2.37B1.93B
CapitalStock101.00K85.00K67.00K42.00K
CommonStock101.00K85.00K67.00K42.00K
TotalLiabilitiesNetMinorityInterest1.00B871.06M1.09B812.18M
TotalNonCurrentLiabilitiesNetMinorityInterest939.72M816.12M1.03B311.31M
OtherNonCurrentLiabilities325.04M284.72M156.52M457.00K
DerivativeProductLiabilities104.14M34.70M154.10M21.64M
NonCurrentDeferredLiabilities162.00K
NonCurrentDeferredTaxesLiabilities162.00K
LongTermDebtAndCapitalLeaseObligation510.54M496.70M721.48M289.22M
LongTermCapitalLeaseObligation33.45M34.82M39.94M47.95M
LongTermDebt477.09M461.88M681.54M241.27M
CurrentLiabilities61.75M54.94M58.28M500.86M
OtherCurrentLiabilities3.07M1.05M716.00K1.63M
CurrentDebtAndCapitalLeaseObligation7.54M7.47M5.24M434.55M
CurrentCapitalLeaseObligation7.54M7.47M5.24M2.65M
CurrentDebt431.90M299.24M
OtherCurrentBorrowings431.90M299.24M
CurrentNotesPayable299.24M
PensionandOtherPostRetirementBenefitPlansCurrent20.07M15.03M17.59M18.11M
PayablesAndAccruedExpenses31.08M31.40M34.73M46.57M
CurrentAccruedExpenses23.70M24.50M24.40M22.09M
Payables7.38M6.90M10.33M24.48M
DuetoRelatedPartiesCurrent403.00K173.00K1.14M3.47M
AccountsPayable6.98M6.72M9.20M21.02M
TotalAssets501.90M382.93M504.45M362.36M
TotalNonCurrentAssets187.02M198.35M210.37M221.78M
OtherNonCurrentAssets18.42M4.83M2.88M4.86M
NonCurrentNoteReceivables7.38M7.13M6.88M6.63M
InvestmentsAndAdvances0.00891.00K840.00K7.60M
OtherInvestments4.86M6.78M
InvestmentinFinancialAssets0.00891.00K840.00K822.00K
AvailableForSaleSecurities891.00K840.00K822.00K
LongTermEquityInvestment840.00K822.00K
GoodwillAndOtherIntangibleAssets13.95M15.93M17.09M20.00M
OtherIntangibleAssets13.04M15.02M17.09M20.00M
Goodwill910.00K910.00K
NetPPE147.27M170.46M182.62M189.45M
AccumulatedDepreciation-112.48M-99.59M-84.38M-69.25M
GrossPPE259.76M270.05M267.00M258.70M
Leases73.14M73.13M72.55M68.71M
ConstructionInProgress86.43M86.42M84.44M72.69M
OtherProperties96.27M106.94M106.46M113.73M
MachineryFurnitureEquipment3.92M3.56M3.56M3.56M
BuildingsAndImprovements0.00
Properties0.000.000.000.00
CurrentAssets314.88M184.59M294.08M140.58M
OtherCurrentAssets2.13M1.30M2.62M2.90M
PrepaidAssets26.39M22.55M21.83M28.60M
Inventory910.00K8.27M0.00
FinishedGoods767.00K0.00
WorkInProcess7.50M0.00
RawMaterials0.000.00
Receivables42.62M2.65M3.17M1.89M
OtherReceivables1.15M
DuefromRelatedPartiesCurrent46.00K293.00K2.02M1.89M
AccountsReceivable42.57M2.36M0.00
CashCashEquivalentsAndShortTermInvestments242.82M149.81M266.46M107.18M
OtherShortTermInvestments154.48M6.38M1.01M2.54M
CashAndCashEquivalents88.33M143.43M265.45M104.64M
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow-309.19M-398.12M-397.34M-436.90M
RepurchaseOfCapitalStock0.00
RepaymentOfDebt-28.00K-64.00K-77.00K-58.00K
IssuanceOfDebt2.88M0.00258.70M174.12M
IssuanceOfCapitalStock400.56M111.36M100.56M60.43M
CapitalExpenditure-4.25M-6.89M-30.58M-99.39M
InterestPaidSupplementalData71.32M92.32M77.19M35.44M
IncomeTaxPaidSupplementalData0.0015.00K8.00K2.00K
EndCashPosition89.43M143.91M265.79M104.97M
BeginningCashPosition143.91M265.79M104.97M181.28M
EffectOfExchangeRateChanges15.00K-23.00K-292.00K284.00K
ChangesInCash-54.50M-121.85M161.11M-76.60M
FinancingCashFlow400.24M281.63M558.34M233.61M
CashFlowFromContinuingFinancingActivities400.24M281.63M558.34M233.61M
NetOtherFinancingCharges-1.13M96.96M192.76M-339.00K
ProceedsFromStockOptionExercised-2.04M73.38M6.39M-542.00K
NetCommonStockIssuance400.56M111.36M100.56M60.43M
CommonStockPayments0.00
CommonStockIssuance400.56M111.36M100.56M60.43M
NetIssuancePaymentsOfDebt2.86M-64.00K258.62M174.07M
NetShortTermDebtIssuance2.88M0.000.00174.12M
ShortTermDebtIssuance2.88M0.000.00174.12M
NetLongTermDebtIssuance-28.00K-64.00K258.62M174.07M
LongTermDebtPayments-28.00K-64.00K-77.00K-58.00K
LongTermDebtIssuance0.000.00258.70M174.12M
InvestingCashFlow-149.80M-12.25M-30.47M27.30M
CashFlowFromContinuingInvestingActivities-149.80M-12.25M-30.47M27.30M
NetOtherInvestingChanges-1.00M
NetInvestmentPurchaseAndSale-145.55M-4.36M114.00K127.69M
SaleOfInvestment95.82M136.61M10.47M162.00M
PurchaseOfInvestment-241.37M-140.97M-10.36M-34.31M
NetBusinessPurchaseAndSale0.000.00-1.00M0.00
PurchaseOfBusiness0.000.00-1.00M0.00
NetIntangiblesPurchaseAndSale-406.00K0.000.00-21.23M
PurchaseOfIntangibles-406.00K0.000.00-21.23M
NetPPEPurchaseAndSale-3.85M-6.89M-30.58M-78.16M
SaleOfPPE0.000.0020.50M
PurchaseOfPPE-3.85M-6.89M-30.58M-78.16M
OperatingCashFlow-304.94M-391.24M-366.76M-337.51M
CashFlowFromContinuingOperatingActivities-304.94M-391.24M-366.76M-337.51M
ChangeInWorkingCapital-54.33M-19.42M3.83M-8.00M
ChangeInOtherWorkingCapital477.00K763.00K-1.13M-1.23M
ChangeInOtherCurrentLiabilities-7.21M-5.47M-2.98M-4.32M
ChangeInOtherCurrentAssets803.00K-1.11M1.76M2.00M
ChangeInPayablesAndAccruedExpense2.99M-4.67M213.00K12.10M
ChangeInAccruedExpense3.18M-1.51M6.69M4.10M
ChangeInPayable-190.00K-3.17M-6.48M8.00M
ChangeInAccountPayable-190.00K-3.17M-6.48M8.00M
ChangeInPrepaidAssets-4.86M1.70M5.96M-16.56M
ChangeInInventory-6.33M-8.27M0.000.00
ChangeInReceivables-40.21M-2.36M0.000.00
ChangesInAccountReceivables-40.21M-2.36M0.000.00
OtherNonCashItems90.58M24.13M93.64M35.31M
StockBasedCompensation36.81M34.43M49.16M40.18M
UnrealizedGainLossOnInvestmentSecurities0.00632.00K1.59M4.19M
AssetImpairmentCharge14.02M0.00886.00K2.01M
AmortizationOfSecurities-2.75M-1.49M-137.00K1.32M
DeferredTax-4.00K-8.00K
DeferredIncomeTax-4.00K-8.00K
DepreciationAmortizationDepletion15.53M17.55M18.51M18.26M
DepreciationAndAmortization15.53M17.55M18.51M18.26M
OperatingGainsLosses-53.32M-33.43M49.61M-13.46M
EarningsLossesFromEquityInvestments803.00K
GainLossOnInvestmentSecurities-53.32M-33.43M49.61M-13.46M
NetIncomeFromContinuingOperations-351.47M-413.64M-583.85M-417.32M
SEC Filings

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

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