We recently published a list of 10 Stocks Stand Strong Amid Cautious Market Environment. In this article, we are going to take a look at where ImmunityBio, Inc. (NASDAQ:IBRX) stands against stocks that stand strong amid cautious market environment.
The stock market showed resilience on Wednesday, with all major indices ending in the green territory anew, as investors weighed news of President Donald Trump’s imposition of a new round of tariffs while digesting minutes of the Federal Reserve.
The Dow Jones rose by 0.16 percent, the S&P 500 increased by 0.24 percent, while the tech-heavy Nasdaq eked out a 0.07 percent gain.
Despite the news, ten companies managed to stand out, posting modest gains during the trading session.
To come up with Wednesday’s top performers, we considered only the stocks with more than $1.9 billion in market capitalization and $5 million in daily trading volume.
Note that some stocks we have covered in-depth over the past few days have been excluded from this list.
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) surged by 16.42 percent on Wednesday to end at $3.9 apiece as investors cheered news that it was authorized by the Food and Drug Administration (FDA) to help address the supply shortage of bladder cancer treatments in the US through bringing a vital alternative source of BCG (Bacillus Calmette-Guérin).
Upon securing FDA approval, IBRX said supplies of rBCG have been shipped immediately. The alternative source was developed by the Serum Institute of India, the world’s largest manufacturer of vaccines by volume.
“With the increasing threat of supply shortages of essential medicines, the biopharmaceutical industry must innovate and secure new means of ensuring uninterrupted access to vital therapeutics,” said Dr. Patrick Soon-Shiong, Founder, Executive Chairman and Global Chief Scientific and Medical Officer of ImmunityBio. “Our collaboration with the FDA and Serum Institute to ensure a reliable supply of this vital drug for bladder cancer patients underscores ImmunityBio’s commitment to addressing critical access issues that affect so many patients.”
Data from the National Cancer Institute in 2024 showed that there were 83,190 estimated new cases of bladder cancer in the US, while 16,840 died from the disease during the period. The current survival rate for individuals with bladder cancer is 78.4 percent.
Overall, IBRX ranks 3rd on our list of stocks that stand strong amid cautious market environment. 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 timeframe. 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 the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
