ImmunityBio (IBRX) Stock Jumps 43.2%: Will It Continue to Soar?
ImmunityBio IBRX shares rallied 43.2% in the last trading session to close at $5.54. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 136% gain over the past four weeks.
The rise in share prices is likely due to positive momentum building around the company's lead pipeline candidate N-803. A biologics license application (BLA) is currently under FDA review for N-803 in combination with bacillus calmette-guerin (BGC) to treat patients with bladder cancer.
This immunotherapy company is expected to post quarterly loss of $0.27 per share in its upcoming report, which represents a year-over-year change of -3.9%. Revenues are expected to be $0.03 million, up 200% from the year-ago quarter
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For ImmunityBio, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IBRX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
ImmunityBio belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Syros Pharmaceuticals, Inc. SYRS, closed the last trading session 1% higher at $3.15. Over the past month, SYRS has returned 24.6%.
For Syros Pharmaceuticals, Inc. , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$1.05. This represents a change of +73.8% from what the company reported a year ago. Syros Pharmaceuticals, Inc. currently has a Zacks Rank of #3 (Hold).
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