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If you are wondering whether ImmunityBio’s current share price is giving you a fair deal or not, this article will walk through what the numbers are really saying about its value.
The stock recently closed at US$6.56, with returns of 3.6% over 7 days, 181.5% over 30 days, 224.8% year to date and 106.9% over the past year, which naturally raises questions about how the recent share price lines up with underlying value.
These moves have put ImmunityBio firmly on many investors’ watchlists, with recent news flow helping to frame changing expectations around its prospects and risk profile. That context matters, because sharp swings in price can reflect shifting sentiment as much as changes in fundamentals.
On Simply Wall St’s valuation checks, ImmunityBio currently has a value score of 2 out of 6. Next, we will look at what different valuation methods say about that score and then finish with a way of judging value that goes beyond any single model.
ImmunityBio scores just 2/6 on our valuation checks. See what other red flags we found in the full valuation breakdown.
A Discounted Cash Flow, or DCF, model estimates what a business could be worth by projecting its future cash flows and then discounting them back to today, using a required rate of return.
For ImmunityBio, the latest twelve month Free Cash Flow is a loss of $373.9 million. Analysts provide specific Free Cash Flow estimates out to 2030, with projections shifting from a loss in 2026 of $187.5 million to a positive $632.4 million by 2030. Beyond the first five years, Simply Wall St extrapolates further annual Free Cash Flow estimates up to 2035, all kept in the same $ millions range.
Using these projections in a 2 Stage Free Cash Flow to Equity model results in an estimated intrinsic value of about $20.22 per share. Compared with the recent share price of $6.56, the model output indicates that, on this DCF view, the shares are trading at a 67.6% discount to the model’s intrinsic value estimate.
Result: UNDERVALUED (based on this DCF model)
Our Discounted Cash Flow (DCF) analysis suggests ImmunityBio is undervalued by 67.6%. Track this in your watchlist or portfolio, or discover 51 more high quality undervalued stocks.
IBRX Discounted Cash Flow as at Feb 2026
For companies where book value still provides a meaningful anchor, the P/B ratio is a common way to gauge how much investors are paying for each dollar of net assets. It tends to work best for businesses where assets on the balance sheet are a key part of the story, and it gives you a quick sense of how optimistic the market is compared with the accounting value.
Story Continues
What counts as a “normal” or “fair” multiple often reflects how the market views a company’s growth potential and risk. Higher expected growth or lower perceived risk can support a higher multiple, while weaker prospects or higher uncertainty usually align with a lower one.
ImmunityBio currently trades on a P/B of 12.32x, compared with the Biotechs industry average of 2.75x and a peer average of 9.93x. Simply Wall St’s Fair Ratio is a proprietary estimate of what the P/B might be, given factors such as growth, risks, profit margins, industry, and market cap. That tailored view can be more useful than a simple peer or industry comparison because it aims to align the multiple with the company’s specific profile. Since the Fair Ratio for ImmunityBio is not available, there is no clear signal here on whether the current P/B suggests the shares are overvalued, undervalued, or about right.
Result: ABOUT RIGHT
NasdaqGS:IBRX P/B Ratio as at Feb 2026
P/B ratios tell one story, but what if the real opportunity lies elsewhere? Start investing in legacies, not executives. Discover our 23 top founder-led companies.
Earlier we mentioned that there is an even better way to understand valuation. Let us introduce you to Narratives, which give you a clear story behind the numbers you are using for fair value, revenue, earnings, and margins.
A Narrative is simply your written view of a company, linked directly to a financial forecast and then to a fair value estimate, so you can see how your story translates into numbers and a potential price range.
On Simply Wall St’s Community page, millions of investors can build and compare Narratives. They can then line up their Fair Value against the current share price to help decide whether they see the stock as attractive, fully priced, or expensive based on their own assumptions.
Because Narratives update automatically when new information such as news or earnings is added to the platform, your view of ImmunityBio can shift quickly as the facts change.
For example, one ImmunityBio Narrative on the Community page might assume a much higher fair value than today’s price, while another might sit well below it, reflecting two very different views on future revenue, profitability, and risk.
Do you think there’s more to the story for ImmunityBio? Head over to our Community to see what others are saying!
NasdaqGS:IBRX 1-Year Stock Price Chart
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include IBRX.
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