ImmunityBio Surges 35% on CAR-NK Trial Breakthrough: Is This the Catalyst for Biotech's Next Big Move?

Summary
• ImmunityBio (IBRX) rockets 35.02% to $5.33, hitting 52-week high of $5.55
• 15-month complete response in CAR-NK trial cited as key driver
• Biotech sector rallies as Moderna (MRNA) surges 5.64%
• Options frenzy: 20 contracts traded with implied volatility exceeding 200%

ImmunityBio’s explosive intraday rally has thrust it into the spotlight, fueled by a landmark CAR-NK trial update and a broader biotech sector resurgence. With the stock trading at 35% above its open, the move underscores investor hunger for innovation in oncology. Moderna’s 5.64% gain further signals sector-wide optimism, positioning IBRX as a potential breakout candidate in a market primed for biotech disruption.

CAR-NK Trial Success Ignites Biotech Optimism
The 35% surge in ImmunityBio’s stock is directly tied to its announcement of a 15-month complete response in a CAR-NK trial, a rare milestone in oncology. This data, published on January 16, 2026, demonstrates the company’s platform’s potential to deliver durable remissions in hard-to-treat cancers. The timing aligns with broader biotech sector momentum, as JPM26 conference activity and Moderna’s GLP-1 advancements have reignited investor confidence in therapeutic innovation. The stock’s intraday high of $5.55—matching its 52-week peak—suggests market participants are pricing in a near-term catalyst for commercialization or partnership.

Biotech Sector Rally Gains Momentum as Moderna Surges 5.64%
The biotech sector is experiencing a coordinated rally, with Moderna’s 5.64% intraday gain reflecting renewed interest in GLP-1 and mRNA technologies. ImmunityBio’s 35% jump outpaces sector averages, highlighting its niche position in cell therapy. While Moderna’s growth is tied to obesity and metabolic markets, IBRX’s CAR-NK progress targets oncology, a segment with higher unmet need and premium pricing potential. The sector’s collective strength, driven by JPM26 conference activity and regulatory optimism, creates a tailwind for IBRX’s valuation expansion.

Options Playbook: High-Leverage Calls and Volatility-Driven Puts for IBRX
• RSI: 92.49 (overbought)
• MACD: 0.24 (bullish divergence)
• 200-day average: $2.51 (well above)
• Bollinger Bands: Price at $5.33 vs. upper band $3.26 (extreme overextension)

ImmunityBio’s technicals scream short-term overbought conditions, but the 15-month CAR-NK data provides a catalyst to justify aggressive positioning. Key levels to watch: 1) $5.55 (52-week high and Bollinger upper band), 2) $4.38 (intraday low), and 3) $3.00 (psychological support). The RSI at 92.49 suggests a potential pullback, but the MACD’s positive histogram and bullish divergence argue for a continuation of the rally. With Moderna’s 5.64% surge, the sector’s momentum could extend IBRX’s upward trajectory.

Top Call Option: IBRX20260220C5
• Code: IBRX20260220C5
• Type: Call
• Strike Price: $5.00
• Expiration: 2026-02-20
• IV: 150.62% (high volatility)
• Leverage Ratio: 4.39% (moderate)
• Delta: 0.670 (moderate sensitivity)
• Theta: -0.01585 (rapid time decay)
• Gamma: 0.1396 (high sensitivity to price changes)
• Turnover: 1,084,057 (liquid)

This call offers a balance of leverage and liquidity, ideal for a continuation of the rally. A 5% upside to $5.60 would yield a payoff of $0.60 per contract, translating to a 13.6% return on the $4.39 strike. The high gamma ensures the delta increases as the stock moves higher, amplifying gains.

Top Put Option: IBRX20260220P5.5
• Code: IBRX20260220P5.5
• Type: Put
• Strike Price: $5.50
• Expiration: 2026-02-20
• IV: 177.47% (high volatility)
• Leverage Ratio: 4.57% (moderate)
• Delta: -0.389 (moderate bearishness)
• Theta: -0.0124 (moderate time decay)
• Gamma: 0.1255 (high sensitivity)
• Turnover: 12,583 (liquid)

This put provides downside protection if the overbought RSI triggers a correction. A 5% downside to $5.06 would yield a $0.44 payoff, a 9.6% return. The high gamma ensures the put’s delta becomes more negative as the stock dips, locking in profits.

Action: Aggressive bulls should buy IBRX20260220C5 for a 5.60 target. Conservative traders may hedge with IBRX20260220P5.5 to cap risk. If $5.55 breaks, the 52-week high becomes a critical inflection point.

Backtest ImmunityBio Stock Performance
The backtest of IBRX's performance following a 35% intraday surge from 2022 to the present indicates positive short-to-medium-term gains. The 3-Day win rate is 46.33%, the 10-Day win rate is 45.41%, and the 30-Day win rate is 51.38%, suggesting a higher probability of positive returns in the immediate aftermath of such a surge. The maximum return during the backtest was 6.79% over 30 days, indicating that while the gains may not be consistently high, they can be substantial in the short term.

Biotech's Breakout Moment: Position for the Next Wave of Innovation
ImmunityBio’s 35% surge is a textbook example of biotech’s cyclical revival, driven by clinical milestones and sector-wide optimism. The CAR-NK trial data provides a near-term catalyst, while Moderna’s 5.64% gain signals broader confidence in therapeutic innovation. Technicals suggest the rally is overbought but not overextended, with key levels at $5.55 and $3.00 defining the next phase. Investors should prioritize the IBRX20260220C5 call for upside and the IBRX20260220P5.5 put for downside protection. Watch Moderna’s momentum and IBRX’s $5.55 level—breakouts here could redefine the stock’s trajectory in 2026.