On January 21, 2026, ImmunityBio experienced a significant surge in its stock price, closing at $6.92 after a robust increase of 6.79%. This rise comes in the wake of a dramatic escalation in trading volume, which hit approximately 96 million shares—a staggering 357% above the three-month average of approximately 20.5 million shares. The company, known for developing immunotherapies aimed at combating cancers and infectious diseases, has seen its stock price triple over the first three weeks of the year.
Currently, ImmunityBio carries a market capitalization of approximately $6.4 billion, with its shares ranging between $5.71 and $7.10 on this particular trading day. Despite its recent gains, the stock is still down about 80% since its initial public offering in 2015, raising discussions around the volatility and long-term viability of the company amidst its current upswing.
In broader market movements, the S&P 500 increased by 1.16% to close at 6,875, while the Nasdaq Composite rose 1.18% to reach 23,225. In the biotechnology sector, competitors such as Nkarta and Allogene Therapeutics also saw positive movement in their stock prices, indicating sustained investor interest in higher-risk drug development ventures.
For investors, the remarkable performance of ImmunityBio raises critical questions, particularly regarding the significant number of short positions held against the stock. With short-sellers facing a paper loss nearing $500 million due to the stock’s surge—approximately 35% of its public float was shorted before this recent uptick—market sentiment appears to be shifting. The latest surge may not be directly tied to specific news; rather, it likely reflects a reaction from short-sellers who are now reconsidering their positions in light of favorable developments surrounding the company.
Patrick Soon-Shiong, ImmunityBio’s chief scientist, medical officer, and executive chairman, expressed disbelief over the ongoing short-selling of his company’s stock, emphasizing the important mission of developing cancer treatments. The situation raises critical implications for investors as they navigate the complexities of the biotechnology market, especially in light of ImmunityBio’s momentum and the broader interest in innovative cancer therapies.
