ImmunityBio (IBRX) Stock Surges 12% Following Bullish Hedge Fund Analysis

Shares of ImmunityBio (IBRX) experienced a more than 12% increase, closing at $8.83 on September 29, 2026. This upward movement followed the inclusion of ImmunityBio as a leading position in the second-quarter 2026 investor letter from the GA-Courtenay Special Situations Fund, operated by Green Ash Partners.

During the trading session on September 29, 2026, the biotechnology firm’s equity advanced by over 12%. This recent performance contributes to a monthly gain exceeding 11% and a twelve-month surge of more than 256%, drawing heightened interest from institutional investors looking for promising developments in the biotech sector.

The investment fund’s recent stakeholder communication highlighted ImmunityBio’s internal manufacturing infrastructure as a core element of its thesis. The company has the capacity to produce one million vials per year of its flagship product, Anktiva, which has a list price of $35,000 per treatment course. Based on this manufacturing volume and current regulatory approvals, the fund estimates an annual addressable revenue opportunity of more than $5.8 billion, supported by a 99% trailing gross profit margin.

Growth projections stretch considerably beyond the initial $5.8 billion baseline. While Anktiva has already secured international authorization for lung cancer therapy, the fund projects that United States approval could arrive by 2028. Securing U.S. clearance could push the total addressable market past $43 billion annually, factoring in conservative pricing assumptions across multiple indications.

In parallel with these financial projections, ImmunityBio continues to expand its global reach and clinical pipeline. The company recently established a partnership with Accord Healthcare to handle the distribution of Anktiva across 30 international markets. Furthermore, ImmunityBio has initiated a Phase 1b clinical trial testing N-803 in combination with two other oncology therapies for the treatment of bladder cancer.