10 Fastest Growing Penny Stocks to Buy Now

5. Immunitybio Inc. (NASDAQ:IBRX)

3-Year Sales Growth:150.86%

Sales Growth Year over Year: 1025.95%

Stock Upside Potential: 221.84%

Number of Hedge Fund Holders: 14

Immunitybio Inc. (NASDAQ:IBRX) is one of the fastest-growing penny stocks to buy now. On November 4, the company affirmed strong demand for Anktiva, used to treat bladder cancer, as it delivered impressive third-quarter results characterized by robust product sales.

The company delivered product revenue of $31.8 million, representing a 434% increase from the third quarter of last year. The year-over-year revenue increase came on the back of commercial traction for ANKTIVA in combination with BCG in BCG-unresponsive NMIBC with CIS. Consequently, the company’s revenue for the first nine months of the year is up 467% to $74.7 million.

“Unit sales grew nearly 6X year-to-date compared with full-year 2024, reflecting adoption both at leading research centers and in community urology clinics, including rural areas,” said Richard Adcock, President and CEO of ImmunityBio. “ANKTIVA’s total response rate continues to gain momentum with payors as it was recently added as the preferred drug in its indication by a large medication contracting organization covering ~80 million lives.

Amid robust product revenue growth, the net loss shrank to $67.3 million, compared to $85.7 million in the third quarter of last year. The lower net loss was driven by higher product revenue and lower related party interest expense.

Following better-than-expected third-quarter results, H.C. Wainwright analyst Andres Y. Maldonado reiterated a Buy rating on the stock and an $8.00 price target.

Immunitybio Inc. (NASDAQ:IBRX) is a biotechnology company that develops immunotherapy and cell therapy products to treat cancers and infectious diseases. The company’s platform works to boost the natural immune system to fight disease, with a focus on durable, safe protection.