Ibrx stock price forecast for Q3 2024 shows potential upside

IBRX stock price forecast for Q3 2024 shows potential upside driven by immunotherapy pipeline milestones. Market analysts project a 12–15% price appreciation if upcoming Phase 2 trial data meets target endpoints, with resistance near $6. Immunitybio Inc. (NASDAQ:IBRX) is a biotechnology company that focuses on developing new cancer treatments. It uses a specific approach called cellular immunotherapy which involves using the body's immune system to fight cancer cells. 13 hedge funds were long in the company as of the second quarter of 2024. IBRX's accelerating position in the biotechnology industry is prominent and is deriving the right attention from analysts and investors. On January 10, Justin Zelin, an analyst at BTIG, initiated the stock with a buy rating and a price target of $6. The company's lead product Anktiva received approval following compelling response rates and durability results, explaining the thesis behind the rating. The analyst also believes that ImmunityBio's (NASDAQ:IBRX) partnership with the Serum Institute of India for the development of recombinant BCG is an impressive approach to its long-term supply chain management. The IBRX stock price forecast for swing traders emphasizes volatility exploitation. ATR readings suggest daily price ranges up to 5%, offering short-window opportunities around earnings and trial news.