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We recently published a list of 10 Firms Drenched in Red Today. In this article, we are going to take a look at where ImmunityBio, Inc. (NASDAQ:IBRX) stands against other firms that are drenched in red today.
Ten companies pulled back on Wednesday, booking hefty losses during the trading session, with investor sentiment weighed down by a flurry of government policies and dismal earnings performance in the last quarter of the year.
Meanwhile, the Dow Jones fell by 1.91 percent, the S&P 500 declined by 1.61 percent, and the tech-heavy Nasdaq dropped 1.41 percent.
In this article, let us take a look at the 10 companies that led a poor performance during the day and explore the reasons behind their drop.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.
A technician analyzing natural killer cells, as part of an immune system study and research into therapeutical agents.
ImmunityBio, Inc. (NASDAQ:IBRX)
ImmunityBio saw its share prices decline by 8.62 percent on Wednesday to end at $2.65 apiece as investors sold off positions amid the lack of fresh catalysts, coupled with a market expert’s sour comments on its stock.
In the Monday episode of Mad Money, host and former hedge fund manager Jim Cramer said that ImmunityBio, Inc. (NASDAQ:IBRX) was “not a great stock.”
“Immunity Bio—I’ve looked at it for a very, very long time. I don’t like the fact that … they’ve been losing money forever. I am not in their camp,” he said.
In contrast, another analyst posted a bullish stance on ImmunityBio, Inc.’s (NASDAQ:IBRX) stock.
Piper Sandler, for its part, upgraded its rating for the company to “overweight” from “neutral” and raised its price target to $5 from $4.25 previously. It said that its rating reflected ImmunityBio, Inc.’s (NASDAQ:IBRX) Anktiva, t-haNK, and M-ceNK cell therapies, and DNA vaccines aimed at reactivating the immune system to fight cancer, which have shown a strong performance.
Overall, IBRX ranks 6th on our list of firms that are drenched in red today. While we acknowledge the potential of IBRX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than IBRX but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.