ImmunityBio (IBRX) Sheds 4% on Profit-Taking After 14-Day Run

We recently published 10 Big Names With Painful Declines. ImmunityBio Inc. (NASDAQ:IBRX) was one of the worst performers on Tuesday.

ImmunityBio extended losses for a third day on Tuesday, shedding 4.19 percent to close at $5.95 apiece as investors continued to take profits after recording 14 straight days of gains last week.

For the entire month of January until Thursday, January 22, ImmunityBio Inc. (NASDAQ:IBRX) has already soared by 271 percent following a flurry of positive developments, including strong clinical trial results, a 700 percent sales jump from its therapy Anktiva, and expansion into international markets.

In other news, ImmunityBio Inc. (NASDAQ:IBRX) is set to announce detailed results of its QUILT-3.078 Phase 2 study evaluating a chemotherapy-free combination immunotherapy regimen in patients with second-line recurrent or progressive glioblastoma (GBM), as well as patients treated under single-patient INDs (spINDs) across first- to third-line disease.

As of last Thursday, the study has enrolled 23 patients with recurrent or progressive GBM who progressed following standard-of-care therapy, including surgery, radiation, and temozolomide-based chemotherapy.

The treatment has also demonstrated a manageable safety profile

Of the total number of enrollees, 19 remain alive, with four deaths reported to date.

While we acknowledge the potential of IBRX as an investment, 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 extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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