Stock Market Today, Jan. 21: ImmunityBio Rises Again As Short-Sellers Face Losses

Core Insights - ImmunityBio's share price has surged significantly, tripling in value over three weeks, leading to increased trading volume and interest from short-sellers [2][4]. Company Overview - ImmunityBio specializes in developing immunotherapies for cancers and infectious diseases, with a current market capitalization of $6.4 billion [2]. - The stock closed at $6.92, reflecting a 6.79% increase on the day, with a trading volume of 96 million shares, which is approximately 357% above its three-month average [2]. Market Context - The S&P 500 and Nasdaq Composite also saw gains, with increases of 1.16% and 1.18% respectively, indicating a positive market environment for biotechnology stocks [3]. - Other biotechnology peers, such as Nkarta and Allogene Therapeutics, also experienced stock price increases, highlighting ongoing investor interest in higher-risk drug developers [3]. Short-Selling Dynamics - Short-sellers are facing significant losses, with nearly $500 million in paper losses reported due to 35% of ImmunityBio's public float being held short prior to the stock's recent rise [5]. - The recent price increase is attributed to short-sellers potentially covering their positions following a series of positive developments for the company [4].