10 Firms Drenched in Red Today

6. ImmunityBio, Inc. (NASDAQ:IBRX)

ImmunityBio saw its share prices decline by 8.62 percent on Wednesday to end at $2.65 apiece as investors sold off positions amid the lack of fresh catalysts, coupled with a market expert’s sour comments on its stock.

In the Monday episode of Mad Money, host and former hedge fund manager Jim Cramer said that ImmunityBio, Inc. (NASDAQ:IBRX) was “not a great stock.”

“Immunity Bio—I’ve looked at it for a very, very long time. I don’t like the fact that … they’ve been losing money forever. I am not in their camp,” he said.

In contrast, another analyst posted a bullish stance on ImmunityBio, Inc.’s (NASDAQ:IBRX) stock.

Piper Sandler, for its part, upgraded its rating for the company to “overweight” from “neutral” and raised its price target to $5 from $4.25 previously. It said that its rating reflected ImmunityBio, Inc.’s (NASDAQ:IBRX) Anktiva, t-haNK, and M-ceNK cell therapies, and DNA vaccines aimed at reactivating the immune system to fight cancer, which have shown a strong performance.