🔴 Immunitybio is trading 4.04% down today as biotech ETF XBI falls 2.39%

Immunitybio is trading 4.04% down at $7.96 as broad biotech weakness weighs on shares.

• The sector ETF XBI is down 2.39%, and the provided market data also show the Nasdaq lower.
• No confirmed company-specific announcement on November 2 clearly explains the decline.
• Immunitybio is approaching the expected November 3 Q3 earnings report. Analysts forecast $59.23 million in revenue and -$0.07 EPS; this upcoming event is not evidence of a company-specific cause.