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    ImmunityBio (IBRX) Could Be 41% Below Fair Value After Anktiva Optimism

    Simply Wall St·07/18/2026 17:18:18
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    ImmunityBio (IBRX) is back under the spotlight after investor optimism around its bladder cancer therapy Anktiva drove very large year to date share gains. Attention is now centered on regulatory and revenue timing questions.

    See our latest analysis for ImmunityBio.

    After a very large year to date share price return of 280.2%, ImmunityBio’s recent trading has cooled slightly, with a 7 day share price return decline of 6.6% and a 30 day share price return of 9.9%, keeping overall momentum positive. This comes alongside a 1 year total shareholder return of 179.3% and a 3 year total shareholder return of 173.3%, while the 5 year total shareholder return is down 28.9%. This underscores how much of the repricing has been concentrated in the latest phase of enthusiasm around Anktiva and its future revenue path.

    If Anktiva’s story has caught your attention, it may be worth broadening your search to other healthcare and biotech opportunities using our screener for 39 healthcare AI stocks. That can help you spot more companies where sentiment and fundamentals are starting to align.

    After such a sharp move and with ImmunityBio trading at a large discount to the current US$13 price target, the key question is where fair value sits within that range and how much of Anktiva’s potential is already reflected in the share price.

    Most Popular Narrative: 40.9% Undervalued

    The most followed narrative currently places ImmunityBio’s fair value at $13 per share compared with the last close of $7.68. This frames the recent rally as only part of the story.

    The integration of AI driven tools like askIB into R&D, manufacturing and commercial operations, along with the NANT Leonardo robotic cell manufacturing platform, is aimed at higher throughput and lower unit costs. This can support margin improvement as volumes scale and help narrow losses over time.

    Read the complete narrative.

    Want to see what sits behind that fair value for ImmunityBio? The narrative leans on rapid revenue expansion, a sharp swing in margins and a future earnings multiple usually linked to mature sector leaders. The model connects these threads into one set of cash flow assumptions that many investors are benchmarking against.

    Result: Fair Value of $13 (UNDERVALUED)

    Have a read of the narrative in full and understand what's behind the forecasts.

    However, investors also need to weigh the risk that regulators limit ANKTIVA approvals or that adoption across the 33 target markets is slower than analysts expect.

    Find out about the key risks to this ImmunityBio narrative.

    Next Steps

    Given the mix of enthusiasm and concern around ImmunityBio, it makes sense to move quickly and check the underlying data for yourself so you are not only relying on the current mood in the market. Then weigh those signals against the 3 key rewards and 2 important warning signs.

    Looking for more investment ideas beyond ImmunityBio?

    If ImmunityBio has sharpened your focus, do not stop there. Use targeted stock lists to uncover fresh opportunities that fit your risk, income and quality preferences.

    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.