Pre-earnings brief
Reports
Wed, Mar 24, 2021
Est. EPS
—
Est. revenue
—
Implied move
±4.6%
EPS beat rate
50%
ImmunityBio, Inc. is a biotechnology company focused on developing immunotherapy treatments for cancer and infectious diseases. Operating in the health care sector, its innovative approaches aim to harness the body's immune system to fight diseases, which is a significant theme in modern medicine.
Last quarter
In Q2 2026, ImmunityBio reported an EPS of -$0.22, significantly missing expectations. The stock reacted negatively, declining by 2.80% the following day.
EPS beat streak
0Q
EPS beat rate
50%
Avg EPS surprise
-90.29%
Avg 1-day reaction
-0.30%
Investors are cautious ahead of the earnings report, especially given the recent disappointing results. There is uncertainty regarding the company's ability to improve its financial performance.
Bull case
If ImmunityBio can show improved revenue growth and better-than-expected EPS, it could signal a turnaround and boost investor confidence.
Bear case
Continued losses and lack of revenue growth could lead to further declines in stock price, as investors may lose faith in the company's strategy.
The print will turn on these.
Q1
What is the updated outlook on revenue growth for the upcoming quarters?
This will indicate whether the company is on track to recover from recent losses and regain investor confidence.
Q2
How is the company addressing the significant EPS misses from previous quarters?
Investors will want to know how management plans to improve profitability and whether they have a clear strategy moving forward.
—
Est. EPS
—
Est. Rev
—
Impl. Move
—
Why consensus could be wrong
The Street may be overly focused on recent EPS misses without considering the potential for a turnaround in revenue growth, which could signal a recovery.
Supporting evidence
Options are pricing a 4.63% move, but the stock has averaged a 7.89% move historically.
The company's innovative therapies may begin to gain traction, leading to improved revenue that the market is not currently anticipating.
Key risk
If revenue growth exceeds expectations, it could significantly shift market sentiment.
Pre-commit to what would confirm each case.
The market is closely watching ImmunityBio's ability to turn around its financial performance after several disappointing quarters.
Bull confirmed if
A revenue growth rate of over 10% compared to the previous quarter would confirm the bull case.
Bear confirmed if
An EPS loss greater than -$0.22 would reinforce the bear case.
What the market is pricing for the move.
Implied Move
±4.63%
Historical Avg
±7.9%
The options market is pricing in a moderate move around the earnings report, suggesting some uncertainty among investors.
Options are pricing ±4.6% while IBRX has averaged ±7.9% over the last 8 prints — setup is pricing cheap.
ATM IV
0.7%
30d HV
67.4%
Cross-company pattern from 30 similar setups.
Prior-quarter miss + options pricing cheap in Health Care
Fade rate: 12 of 30 (40%)
This setup has occurred 30 times across Health Care in the last 2 years. 12 of 30 faded and 18 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 4.5%, with a raw directional average of +2.2% (modestly positive historical bias).
Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.
Bought
$0.00
0 sh
0 insiders
Sold
$1.1M
106,056 sh
2 insiders
Net
$1.1M
Net selling
Most Active Insiders· 2 open-market trades
Likely market behavior by outcome. Not investment advice.
Beat & raise
If ImmunityBio beats expectations, history suggests the stock could rise by around 1.27% on the first day, confirming a positive turnaround.
In line / cautious
If results are in line with expectations, the stock may experience a muted reaction, reflecting ongoing investor caution.
Miss
A miss could lead to a decline of approximately 1.27%, reinforcing negative sentiment around the company's performance.
The lines on the call that would change the story.
$851,088.00
Net selling
$268,760.00
Net selling
Recent Transactions
Oct 2, 2026 · @ $10.50
81,056 sh
$851,088.00
Oct 5, 2026 · @ $10.75
25,000 sh
$268,760.00
Open-market trades only (Form 4 codes P/S). Awards, exercises, and tax-withholding excluded as routine compensation noise.