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IBRX Stock Rises Overnight: Jim Cramer Backs ImmunityBio As A 'Very Good Spec' Amid Biotech Takeover Wave
ImmunityBio shares rose nearly 1% overnight after CNBC host Jim Cramer called the stock a very good speculative bet. That followed a 5% Monday drop to $7.81, its fourth straight losing session, on takeover activity.
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What happened
ImmunityBio shares rose nearly 1% overnight after CNBC host Jim Cramer called the stock a very good speculative bet. That followed a 5% Monday drop to $7.81, its fourth straight losing session, on takeover activity.
Confirmed
Global impact / market context
Cramer's public endorsement can draw retail investor attention to a small biotech stock, potentially adding buying demand and volatility. His takeover argument matters because the company's value may depend on Anktiva's bladder cancer expansion and whether larger drugmakers see it as an acquisition target.
Analyst inference
The article cites recent deals: Viatris agreed to buy Pacira BioSciences for $1.65 billion, AbbVie completed a $10.9 billion purchase of Apogee Therapeutics, and Eli Lilly agreed to acquire Merida Biosciences. This deal wave supports Cramer's case that investors want exposure to biotechs being taken over.
Analyst inference
What to watch
- ImmunityBio shares moved nearly 1% higher overnight after Cramer's comment, while the stock closed Monday down about 5% at $7.81, its fourth straight red session. Confirmed
- Cramer suggested investors could take a position in ImmunityBio as a speculation, echoing his June advice to limit speculation to one holding and let ImmunityBio be that pick. Proposed
- Watch whether further biotech acquisitions cited, including Viatris buying Pacira for $1.65 billion and AbbVie's completed $10.9 billion Apogee deal, sustain investor interest in small biotech targets. Analyst inference