We recently published an article titled Trade Tensions Weigh Heavily on 10 Stocks. In this article, we are going to take a look at where ImmunityBio Inc. (NASDAQ:IBRX) stands against the other stocks.
The stock market kicked off the trading week in a bloodbath, erasing last week’s gains, with all major indices posting heavy losses following President Donald Trump’s imposition of additional 10-percent tariffs on China, and the resumption of 25-percent taxes on Mexico and Canada.
The tech-heavy Nasdaq posted the biggest losses, down 2.64 percent, followed by the S&P at 1.76 percent and the Dow Jones at 1.48 percent.
According to Trump, there was no room left for Mexico and Canada, and his 25-percent tariff for the two countries “will start.” He also signed an additional 10 percent tariff on goods from China.
The overall sentiment spilled into the performance of 10 companies, which on Monday lost as high as double digits.
To come up with Monday’s top losers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily 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 Inc. (NASDAQ:IBRX) fell by 13.37 percent on Monday to finish at $2.85 apiece, weighed by an overall market sentiment, with investors shunning news of increased sales from its ANKTIVA treatment.
According to the company, it saw increased sales momentum supporting a trend of increases month-on-month and quarter-on-quarter, with February sales volume growing by 67 percent over January.
It also said that sales for the past two months alone already exceeded the overall unit sales achieved in the fourth quarter of 2024.
In other news, ImmunityBio Inc. (NASDAQ:IBRX) saw net loss in the fourth quarter of 2024 narrowed by 75 percent to $59.18 million from $233 million in the same period a year earlier, while net loss for full-year 2024 shrunk by 29 percent to $413.6 million from $583.8 million in 2023.
The improved earnings was supported by higher revenues for both the quarter and full year, which soared by 5,333 percent to $7.5 billion from $139 million and by 2,270 percent to $14.7 billion from $622 million, respectively.
Overall IBRX ranks 4th on our list of Monday’s top losers. While we acknowledge the 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 but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
