IBRX
ImmunityBio, Inc.
Biotechnology
Market Cap$7.64B
5Y Perf.+15.1%
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Stock Comparison
IBRX vs NKTR vs HALO vs FATE
Revenue, margins, valuation, and 5-year total return — side by side.
NKTR
Nektar Therapeutics
Biotechnology
Market Cap$1.69B
5Y Perf.-74.4%
HALO
Halozyme Therapeutics, Inc.
Biotechnology
Market Cap$7.68B
5Y Perf.+168.6%
FATE
Fate Therapeutics, Inc.
Biotechnology
Market Cap$280M
5Y Perf.-92.5%
IBRX vs NKTR vs HALO vs FATE — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | IBRX | NKTR | HALO | FATE |
|---|---|---|---|---|
| Industry | Biotechnology | Biotechnology | Biotechnology | Biotechnology |
| Market Cap | $7.64B | $1.69B | $7.68B | $280M |
| Revenue (TTM) | $83M | $55M | $1.40B | $7M |
| Net Income (TTM) | $-349M | $-164M | $317M | $-136M |
| Gross Margin | 94.8% | 99.6% | 81.9% | — |
| Operating Margin | -315.8% | -237.9% | 58.4% | -22.2% |
| Forward P/E | — | — | 8.1x | — |
| Total Debt | $504M | $149M | $0.00 | $78M |
| Cash & Equiv. | $143M | $15M | $134M | $47M |
IBRX vs NKTR vs HALO vs FATE — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
IBRX
NKTR
HALO
FATE
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| ImmunityBio, Inc. (IBRX) | 100 | 115.1 | +15.1% |
| Nektar Therapeutics (NKTR) | 100 | 25.6 | -74.4% |
| Halozyme Therapeuti… (HALO) | 100 | 268.6 | +168.6% |
| Fate Therapeutics, … (FATE) | 100 | 7.5 | -92.5% |
Price return only. Dividends and distributions are not included.
Quick Verdict: IBRX vs NKTR vs HALO vs FATE
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: HALO leads in 3 of 6 categories, making it the strongest pick for profitability and margin quality and capital preservation and lower volatility. ImmunityBio, Inc. is the stronger pick specifically for growth and revenue expansion. NKTR also leads in specific categories worth noting. As sector peers, any of these can serve as alternatives in the same allocation.
IBRX
ImmunityBio, Inc.
The Growth Play
IBRX is the #2 pick in this set and the best alternative if growth exposure is your priority.
- Rev growth 22.7%, EPS growth 46.1%, 3Y rev CAGR 150.9%
- 22.7% revenue growth vs FATE's -51.2%
Best for: growth exposure
NKTR
Nektar Therapeutics
The Momentum Pick
NKTR is the clearest fit if your priority is momentum.
- +8.2% vs HALO's -7.1%
Best for: momentum
HALO
Halozyme Therapeutics, Inc.
The Income Pick
HALO carries the broadest edge in this set and is the clearest fit for income & stability and long-term compounding.
- beta 0.56
- 5.7% 10Y total return vs IBRX's -7.5%
- Beta 0.56, current ratio 4.66x
- 22.7% margin vs FATE's -20.5%
Best for: income & stability and long-term compounding
FATE
Fate Therapeutics, Inc.
The Defensive Pick
FATE is the clearest fit if your priority is sleep-well-at-night.
- Lower volatility, beta 2.17, Low D/E 37.6%, current ratio 5.79x
Best for: sleep-well-at-night
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | IBRX | 22.7% revenue growth vs FATE's -51.2% |
| Quality / Margins | HALO | 22.7% margin vs FATE's -20.5% |
| Stability / Safety | HALO | Beta 0.56 vs IBRX's 2.21 |
| Dividends | Tie | None of these 4 stocks pay a meaningful dividend |
| Momentum (1Y) | NKTR | +8.2% vs HALO's -7.1% |
| Efficiency (ROA) | HALO | 12.5% ROA vs IBRX's -93.2% |
IBRX vs NKTR vs HALO vs FATE — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2024
FY 2025
FY 2025
FY 2023
IBRX vs NKTR vs HALO vs FATE — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLHALOLAGGINGFATE
Who Leads Where
HALO leads in 2 of 6 categories
NKTR leads 1 • IBRX leads 0 • FATE leads 0 • 2 tied
Explore the data ↓FATEFate Therapeutics, In…
0leads
IBRXImmunityBio, Inc.
0leads
NKTRNektar Therapeutics
1leads
HALOHalozyme Therapeutics…
2leads
6 Total Categories
CATEGORYLEADERvs NKTRvs IBRXMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
HALO3/6
Valuation MetricsMultiples, price ratios, and targets
Tied
—
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
HALO8/9
Total Returns1Y, 3Y, 5Y total returns with dividends
NKTR3/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
—
—
Income & Cash Flow (Last 12 Months)
HALO leads this category, winning 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
HALO is the larger business by revenue, generating $1.4B annually — 210.1x FATE's $7M. HALO is the more profitable business, keeping 22.7% of every revenue dollar as net income compared to FATE's -20.5%. On growth, IBRX holds the edge at +4.3% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | IBRXImmunityBio, Inc. | NKTRNektar Therapeuti… | HALOHalozyme Therapeu… | FATEFate Therapeutics… |
|---|---|---|---|---|
| RevenueTrailing 12 months | $83M | $55M | $1.4B | $7M |
| EBITDAEarnings before interest/tax | -$245M | -$130M | $945M | -$148M |
| Net IncomeAfter-tax profit | -$349M | -$164M | $317M | -$136M |
| Free Cash FlowCash after capex | -$324M | -$209M | $645M | -$88M |
| Gross MarginGross profit ÷ Revenue | +94.8% | +99.6% | +81.9% | — |
| Operating MarginEBIT ÷ Revenue | -3.2% | -2.4% | +58.4% | -22.2% |
| Net MarginNet income ÷ Revenue | -4.2% | -3.0% | +22.7% | -20.5% |
| FCF MarginFCF ÷ Revenue | -3.9% | -3.8% | +46.2% | -13.2% |
| Rev. Growth (YoY)Latest quarter vs prior year | +4.3% | -25.3% | +51.6% | -26.4% |
| EPS Growth (YoY)Latest quarter vs prior year | +40.8% | -4.5% | -2.1% | +38.6% |
HALO leads this category, winning 3 of 6 comparable metrics.
Valuation Metrics
Evenly matched — IBRX and HALO and FATE each lead in 1 of 3 comparable metrics.
Valuation Metrics
| Metric | IBRXImmunityBio, Inc. | NKTRNektar Therapeuti… | HALOHalozyme Therapeu… | FATEFate Therapeutics… |
|---|---|---|---|---|
| Market CapShares × price | $7.6B | $1.7B | $7.7B | $280M |
| Enterprise ValueMkt cap + debt − cash | $8.0B | $1.8B | $7.5B | $312M |
| Trailing P/EPrice ÷ TTM EPS | -12.52x | -8.57x | 25.46x | -2.11x |
| Forward P/EPrice ÷ next-FY EPS est. | — | — | 8.09x | — |
| PEG RatioP/E ÷ EPS growth rate | — | — | 1.11x | — |
| EV / EBITDAEnterprise value multiple | — | — | 8.34x | — |
| Price / SalesMarket cap ÷ Revenue | 518.37x | 30.64x | 5.50x | 42.18x |
| Price / BookPrice ÷ Book value/share | — | 15.66x | 165.47x | 1.39x |
| Price / FCFMarket cap ÷ FCF | — | — | 11.91x | — |
Evenly matched — IBRX and HALO and FATE each lead in 1 of 3 comparable metrics.
Profitability & Efficiency
HALO leads this category, winning 8 of 9 comparable metrics.
Profitability & Efficiency
HALO delivers a 6.5% return on equity — every $100 of shareholder capital generates $6 in annual profit, vs $-4 for NKTR. FATE carries lower financial leverage with a 0.38x debt-to-equity ratio, signaling a more conservative balance sheet compared to NKTR's 1.66x. On the Piotroski fundamental quality scale (0–9), HALO scores 5/9 vs FATE's 2/9, reflecting solid financial health.
| Metric | IBRXImmunityBio, Inc. | NKTRNektar Therapeuti… | HALOHalozyme Therapeu… | FATEFate Therapeutics… |
|---|---|---|---|---|
| ROE (TTM)Return on equity | — | -4.0% | +6.5% | -65.8% |
| ROA (TTM)Return on assets | -93.2% | -62.8% | +12.5% | -42.7% |
| ROICReturn on invested capital | — | -57.2% | +73.4% | -36.5% |
| ROCEReturn on capital employed | -88.9% | -55.7% | +38.2% | -43.1% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 2 | 5 | 2 |
| Debt / EquityFinancial leverage | — | 1.66x | — | 0.38x |
| Net DebtTotal debt minus cash | $361M | $134M | -$134M | $31M |
| Cash & Equiv.Liquid assets | $143M | $15M | $134M | $47M |
| Total DebtShort + long-term debt | $504M | $149M | $0 | $78M |
| Interest CoverageEBIT ÷ Interest expense | -2.48x | -4.74x | 46.08x | — |
HALO leads this category, winning 8 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
NKTR leads this category, winning 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in HALO five years ago would be worth $13,704 today (with dividends reinvested), compared to $318 for FATE. Over the past 12 months, NKTR leads with a +818.2% total return vs HALO's -7.1%. The 3-year compound annual growth rate (CAGR) favors NKTR at 93.3% vs FATE's -23.6% — a key indicator of consistent wealth creation.
| Metric | IBRXImmunityBio, Inc. | NKTRNektar Therapeuti… | HALOHalozyme Therapeu… | FATEFate Therapeutics… |
|---|---|---|---|---|
| YTD ReturnYear-to-date | +284.2% | +92.0% | -7.3% | +145.5% |
| 1-Year ReturnPast 12 months | +310.6% | +818.2% | -7.1% | +143.0% |
| 3-Year ReturnCumulative with dividends | +21.1% | +621.8% | +115.3% | -55.4% |
| 5-Year ReturnCumulative with dividends | -53.6% | -72.3% | +37.0% | -96.8% |
| 10-Year ReturnCumulative with dividends | -7.5% | -59.1% | +570.7% | +40.5% |
| CAGR (3Y)Annualised 3-year return | +6.6% | +93.3% | +29.1% | -23.6% |
NKTR leads this category, winning 3 of 6 comparable metrics.
Risk & Volatility
Evenly matched — HALO and FATE each lead in 1 of 2 comparable metrics.
Risk & Volatility
HALO is the less volatile stock with a 0.56 beta — it tends to amplify market swings less than IBRX's 2.21 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. FATE currently trades 98.6% from its 52-week high vs IBRX's 62.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | IBRXImmunityBio, Inc. | NKTRNektar Therapeuti… | HALOHalozyme Therapeu… | FATEFate Therapeutics… |
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 2.21x | 1.85x | 0.56x | 2.17x |
| 52-Week HighHighest price in past year | $12.43 | $109.00 | $82.22 | $2.46 |
| 52-Week LowLowest price in past year | $1.83 | $7.99 | $47.50 | $0.91 |
| % of 52W HighCurrent price vs 52-week peak | +62.4% | +76.5% | +79.3% | +98.6% |
| RSI (14)Momentum oscillator 0–100 | 59.4 | 53.4 | 52.4 | 81.0 |
| Avg Volume (50D)Average daily shares traded | 20.4M | 991K | 1.4M | 1.9M |
Evenly matched — HALO and FATE each lead in 1 of 2 comparable metrics.
Analyst Outlook
Insufficient data to determine a leader in this category.
Analyst Outlook
Analyst consensus: IBRX as "Buy", NKTR as "Buy", HALO as "Buy", FATE as "Buy". Consensus price targets imply 1525.5% upside for FATE (target: $40) vs 20.2% for HALO (target: $78).
| Metric | IBRXImmunityBio, Inc. | NKTRNektar Therapeuti… | HALOHalozyme Therapeu… | FATEFate Therapeutics… |
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy | Buy |
| Price TargetConsensus 12-month target | $13.50 | $132.83 | $78.33 | $39.50 |
| # AnalystsCovering analysts | 5 | 33 | 27 | 31 |
| Dividend YieldAnnual dividend ÷ price | — | — | — | — |
| Dividend StreakConsecutive years of raises | — | — | — | — |
| Dividend / ShareAnnual DPS | — | — | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | 0.0% | 0.0% | +4.5% | 0.0% |
Insufficient data to determine a leader in this category.
Key Takeaway
HALO leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). NKTR leads in 1 (Total Returns). 2 tied.
Best OverallHalozyme Therapeutics, Inc. (HALO)Leads 2 of 6 categories
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IBRX vs NKTR vs HALO vs FATE: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is IBRX or NKTR or HALO or FATE a better buy right now?
For growth investors, ImmunityBio, Inc.
(IBRX) is the stronger pick with 22. 7% revenue growth year-over-year, versus -51. 2% for Fate Therapeutics, Inc. (FATE). Halozyme Therapeutics, Inc. (HALO) offers the better valuation at 25. 5x trailing P/E (8. 1x forward), making it the more compelling value choice. Analysts rate ImmunityBio, Inc. (IBRX) a "Buy" — based on 5 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which is the better long-term investment — IBRX or NKTR or HALO or FATE?
Over the past 5 years, Halozyme Therapeutics, Inc.
(HALO) delivered a total return of +37. 0%, compared to -96. 8% for Fate Therapeutics, Inc. (FATE). Over 10 years, the gap is even starker: HALO returned +570. 7% versus NKTR's -59. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
03Which is safer — IBRX or NKTR or HALO or FATE?
By beta (market sensitivity over 5 years), Halozyme Therapeutics, Inc.
(HALO) is the lower-risk stock at 0. 56β versus ImmunityBio, Inc. 's 2. 21β — meaning IBRX is approximately 297% more volatile than HALO relative to the S&P 500. On balance sheet safety, Fate Therapeutics, Inc. (FATE) carries a lower debt/equity ratio of 38% versus 166% for Nektar Therapeutics — giving it more financial flexibility in a downturn.
04Which is growing faster — IBRX or NKTR or HALO or FATE?
By revenue growth (latest reported year), ImmunityBio, Inc.
(IBRX) is pulling ahead at 22. 7% versus -51. 2% for Fate Therapeutics, Inc. (FATE). On earnings-per-share growth, the picture is similar: ImmunityBio, Inc. grew EPS 46. 1% year-over-year, compared to -25. 4% for Halozyme Therapeutics, Inc.. Over a 3-year CAGR, IBRX leads at 150. 9% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
05Which has better profit margins — IBRX or NKTR or HALO or FATE?
Halozyme Therapeutics, Inc.
(HALO) is the more profitable company, earning 22. 7% net margin versus -28. 0% for ImmunityBio, Inc. — meaning it keeps 22. 7% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: HALO leads at 58. 4% versus -23. 3% for IBRX. At the gross margin level — before operating expenses — IBRX leads at 100. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is IBRX or NKTR or HALO or FATE more undervalued right now?
Analyst consensus price targets imply the most upside for FATE: 1525.
5% to $39. 50.
07Which pays a better dividend — IBRX or NKTR or HALO or FATE?
None of the stocks in this comparison currently pay a material dividend.
All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is IBRX or NKTR or HALO or FATE better for a retirement portfolio?
For long-horizon retirement investors, Halozyme Therapeutics, Inc.
(HALO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 56), +570. 7% 10Y return). ImmunityBio, Inc. (IBRX) carries a higher beta of 2. 21 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (HALO: +570. 7%, IBRX: -7. 5%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between IBRX and NKTR and HALO and FATE?
Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: IBRX is a small-cap high-growth stock; NKTR is a small-cap quality compounder stock; HALO is a small-cap high-growth stock; FATE is a small-cap quality compounder stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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