ImmunityBio (IBRX) extended its rally for the 10th straight day following a 700% surge in Anktiva sales, raising questions about whether the stock has run too far too fast. Investors are assessing whether the pace of gains is sustainable.
- ImmunityBio (IBRX) has gained for 10 consecutive days
- Anktiva sales rose 700% in the latest reporting period
- Stock valuation has increased over 300% year-to-date
- Anktiva remains in Phase 2 development without FDA approval
- Short interest increased 140% over the past month
- Institutional investors have begun reducing positions
ImmunityBio (IBRX) logged its 10th consecutive day of gains, driven by a sharp 700% increase in sales of its investigational immunotherapy drug, Anktiva. The sales surge, reported in the latest quarterly update, reflects strong early adoption in clinical trials and expanding market interest in the company’s novel T-cell therapy approach. The stock, which has climbed over 300% since the beginning of the year, now trades at a valuation that reflects significant investor optimism around Anktiva’s commercial potential. The 700% sales leap is particularly notable given that Anktiva remains in mid-stage development, with full commercial approval still pending. Analysts point to the limited competitive landscape in the autologous T-cell therapy space and positive interim trial data as key drivers behind the sales momentum. Despite the lack of FDA approval, the drug has secured multiple partnerships with academic medical centers and is being used in combination regimens across five active Phase 2 trials. Market participants are now weighing the risks of profit-taking after such an extended rally. The stock’s relative strength index (RSI) has entered overbought territory, and short interest has increased by 140% over the past month, indicating growing speculation. Institutional investors have also begun trimming positions, with insider selling reported in three of the last five trading days. The broader biotech sector has reacted positively, with the Nasdaq Biotechnology Index gaining 1.8% on the day. ImmunityBio’s performance has drawn attention to other late-stage biotech stocks with similar clinical-stage profiles, potentially spurring increased interest in high-risk, high-reward therapeutic candidates.