ImmunityBio (IBRX) Soars 26.4%: Is Further Upside Left in the Stock?

ImmunityBio (IBRX) shares soared 26.4% in the last trading session to close at $5.32. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8% gain over the past four weeks.Last week, the company announced the dosing of the first patient in a phase I study evaluating its CAR-NK cell therapy, CD19 t-haNK, for treating relapsed B-cell non-Hodgkin lymphoma. This might have driven the share price rally.This immunotherapy company is expected to post quarterly loss of $0.18 per share in its upcoming report, which represents a year-over-year change of +5.3%. Revenues are expected to be $4.37 million, up 5356.3% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For ImmunityBio, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IBRX going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>ImmunityBio is part of the Zacks Medical - Biomedical and Genetics industry. Rhythm Pharmaceuticals, Inc. (RYTM), another stock in the same industry, closed the last trading session 2.3% lower at $48.55. RYTM has returned -2.8% in the past month.Rhythm Pharmaceuticals' consensus EPS estimate for the upcoming report has changed -4.6% over the past month to -$0.80. Compared to the company's year-ago EPS, this represents a change of -5.3%. Rhythm Pharmaceuticals currently boasts a Zacks Rank of #2 (Buy).Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ImmunityBio, Inc. (IBRX): Free Stock Analysis Report Rhythm Pharmaceuticals, Inc. (RYTM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks