Why ImmunityBio, Inc. (IBRX) Skyrocketed Today

We recently published a list of These 10 Stocks Are On Fire Right Now. In this article, we are going to take a look at where ImmunityBio, Inc. (NASDAQ:IBRX) stands against other Wednesday’s best-performing stocks.

ImmunityBio extended its winning streak to a fifth consecutive day on Wednesday, jumping 8.1 percent to finish at $2.93 apiece as investors cheered the Food and Drug Administration’s (FDA) green light for the company to expand the access of its Anktiva treatment to patients with solid tumors.

According to ImmunityBio, Inc. (NASDAQ:IBRX), it was granted by the FDA to treat lymphopenia in adult patients with refractory or relapsed solid tumors.

“Lymphopenia has long been recognized as a major driver and predictor of early mortality in cancer—yet until now, it has remained unaddressed,” said ImmunityBio, Inc. (NASDAQ:IBRX) founder and Executive Chairman Patrick Soon-Shiong.

Why ImmunityBio, Inc. (IBRX) Skyrocketed Today

A technician analyzing natural killer cells, as part of an immune system study and research into therapeutical agents.

“This FDA authorization allows all patients with solid tumors suffering from immune collapse following first-line therapy of chemo, radiation, or immunotherapy to access ANKTIVA. The survival benefit we observed at ASCO 2025 in 3rd to 6th line advanced metastatic pancreatic cancer confirms that restoring lymphocyte levels, rather than depleting them, can change the course of disease.”

Following the announcement, the company earned a “buy” recommendation and a price target of $8 from investment firm HC Wainwright.

Overall, IBRX ranks 8th on our list of Wednesday’s best-performing stocks. While we acknowledge the potential of IBRX, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IBRX and that has 10,000x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.