8. ImmunityBio Inc. (NASDAQ:IBRX)
Number of Hedge Fund Holders: 27
Market Capitalization: $9.15 billion
Share Price: $8.63
ImmunityBio, Inc. (NASDAQ: IBRX) has been one of the strongest performers in the supplied biotechnology stock universe, with a reported gain exceeding 300% in 2026. The central driver is ANKTIVA, its cancer immunotherapy product, and the prospect of expanding its use across a broader patient population.
First-half net product revenue increased 121% to $94.8 million. Second-quarter revenue reached $50.7 million, up 92% from a year earlier and 15% sequentially, demonstrating continued commercial adoption.
A significant regulatory milestone followed on October 14, when the FDA expanded ANKTIVA’s approval, in combination with BCG, to include adults with BCG-unresponsive, high-grade papillary-only non-muscle-invasive bladder cancer. The additional indication extends access beyond the previously approved population with carcinoma in situ, with or without papillary tumors.
International regulatory progress provides another potential growth avenue. The company reported authorization in multiple jurisdictions, including the United Arab Emirates, although approvals must still translate into patient access, reimbursement, and actual sales.
Analysts responded positively to the expanding opportunity. Jefferies reiterated a Buy rating on October 14 and increased its price target to $14 from $12, while Piper Sandler raised its target to $16 from $12, according to the supplied analyst updates.
The valuation deserves attention alongside that optimism. A share price below $10 does not make this a small business: its supplied market capitalization exceeds $9 billion. Further gains therefore depend on commercial execution supporting the growth expectations already reflected in its equity value.
Ranking rationale: ImmunityBio, Inc. (NASDAQ: IBRX) ranks eighth with 27 hedge-fund holders, matching the preceding entry. Rapid product-revenue growth and expanded FDA approval support its investment case, while its substantial valuation raises the importance of sustained sales momentum.
