ImmunityBio (NASDAQ:IBRX) rises as Russell index rebalancing and high multiple draw buyers
ImmunityBio (NASDAQ:IBRX) surged 9.2% to $8.51, pushing its $8.74 billion market cap far above the $5.7 billion Russell 1000 large-cap cutoff ahead of the final index reconstitution after Friday’s close, driving heavy trading as investors positioned for potential index fund demand. No new company filings explained the spike.