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Is IBRX a good stock to buy? We came across a bullish thesis on ImmunityBio, Inc. on Investment Ideas by Antonio’s Substack by Antonio Linares. In this article, we will summarize the bulls’ thesis on IBRX. ImmunityBio, Inc.'s share was trading at $8.10 as of April 21st.
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. IBRX is positioned as a next-generation immune system platform company built around its IL-15 superagonist Anktiva, which drives expansion of natural killer and T cells to restore and reprogram immune function against cancer and infectious disease.
The company’s Q4 2025 results highlight accelerating commercial traction, with net product revenue up 700% year over year and unit volumes rising 750%, reflecting strong physician and patient adoption across approved indications.
ImmunityBio has expanded Anktiva access across 33 countries and four major regulatory jurisdictions, supported by a recently obtained FDA J-code that improves reimbursement visibility and commercial scalability. Beyond bladder cancer, where Anktiva is FDA-approved in combination with BCG, the company is advancing a multi-layered platform that combines NK cell amplification, allogeneic cell therapy through its NaNT approach, and precision targeting via DNA vaccine technology.
Supported by the Leonardo manufacturing platform, ImmunityBio is able to scale off-the-shelf NK cells and engineer CAR-NK and PD-L1 NK variants that enhance tumor recognition while overcoming immune evasion mechanisms. Management’s long-term vision is to transform immunotherapy into an API-like model where biomarker inputs can trigger personalized immune system recalibration with minimal toxicity.
With a favorable regulatory shift toward mechanism-based approvals and smaller adaptive trials, ImmunityBio’s platform approach is increasingly aligned with FDA policy evolution. Overall, ImmunityBio represents a high-upside platform opportunity where successful execution could significantly re-rate the company as its immune rejuvenation stack scales across oncology and beyond. Continued commercial momentum and expanding indications strengthen the bullish long-term investment thesis further for IBRX shareholders materially.
Previously, we covered a bullish thesis on Moderna, Inc. (MRNA) by YouAlwaysHaveAChoice in February 2025, which highlighted catalysts from infectious disease risks, institutional accumulation, technical reversal signals, and strong options flow positioning. MRNA’s stock price has appreciated by approximately 62.95% since our coverage. Antonio Linares shares a similar view but emphasizes ImmunityBio’s long-term immune system platform and structural oncology-driven value creation.
ImmunityBio, Inc. is not on our list of the 40 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held IBRX at the end of the fourth quarter which was 18 in the previous quarter. While we acknowledge the risk and potential of IBRX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IBRX and that has 10,000% upside potential, check out our report about this cheapest AI stock.