ImmunityBio (IBRX) Moves 11.8% Higher: Will This Strength Last?

ImmunityBio IBRX shares soared 11.8% in the last trading session to close at $8.71. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.9% gain over the past four weeks.The stock rose on investor optimism surrounding ImmunityBio's anticipated addition to the Russell 1000 Index as part of FTSE Russell's annual reconstitution. The inclusion could boost demand from index-tracking funds.This immunotherapy company is expected to post quarterly loss of $0.09 per share in its upcoming report, which represents a year-over-year change of +10%. Revenues are expected to be $48.45 million, up 83.4% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For ImmunityBio, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on IBRX going forward to see if this recent jump can turn into more strength down the road. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>ImmunityBio is part of the Zacks Medical - Biomedical and Genetics industry. AC Immune ACIU, another stock in the same industry, closed the last trading session 4.5% higher at $2.56. ACIU has returned -10.9% in the past month.For AC Immune, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.22. This represents a change of +12% from what the company reported a year ago. AC Immune currently has a Zacks Rank of #3 (Hold).Beyond Nvidia: AI's Second Wave Is HereThe AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.See Stocks Now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks