Key Points
- Director Kimberly Manhard sold 500 shares of Inhibrx Biosciences at an average price of $115.14, generating $57,570 and reducing her stake by 5% to 9,500 shares.
- INBX shares opened at $111.42, down 1.3%, while the company reported a quarterly loss of $2.34 per share—$0.06 worse than analyst expectations. Analysts expect a full-year loss of $9.91 per share.
- Institutional investors own 82.46% of the stock, and analyst sentiment remains mixed but averages a “Moderate Buy” rating with a $197.50 price target.
Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) Director Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $115.14, for a total transaction of $57,570.00. Following the completion of the sale, the director owned 9,500 shares of the company's stock, valued at $1,093,830. This trade represents a 5.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Inhibrx Biosciences Stock Down 1.3%
Shares of INBX opened at $111.42 on Friday. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 12.58. Inhibrx Biosciences, Inc. has a 12 month low of $26.19 and a 12 month high of $155.29. The firm's 50 day moving average is $98.80 and its 200-day moving average is $93.20. The stock has a market capitalization of $1.64 billion, a PE ratio of -12.55 and a beta of 3.66.
Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.28) by ($0.06). Equities research analysts forecast that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current year.
Institutional Trading of Inhibrx Biosciences
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE bought a new position in Inhibrx Biosciences during the 2nd quarter worth $79,698,000. BlackRock Inc. bought a new stake in shares of Inhibrx Biosciences in the 2nd quarter valued at about $78,261,000. California State Teachers Retirement System increased its stake in shares of Inhibrx Biosciences by 149,396.5% in the second quarter. California State Teachers Retirement System now owns 734,028 shares of the company's stock valued at $69,549,000 after buying an additional 733,537 shares during the period. Morgan Stanley raised its position in shares of Inhibrx Biosciences by 163.7% during the fourth quarter. Morgan Stanley now owns 1,167,728 shares of the company's stock worth $92,251,000 after acquiring an additional 724,872 shares during the last quarter. Finally, Capital Research Global Investors acquired a new position in shares of Inhibrx Biosciences in the fourth quarter worth approximately $33,304,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently issued reports on INBX shares. HC Wainwright assumed coverage on shares of Inhibrx Biosciences in a research report on Monday, August 24th. They set a "buy" rating and a $245.00 price objective for the company. Wall Street Zen lowered Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a research report on Monday, August 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. Finally, Citigroup restated a "market perform" rating on shares of Inhibrx Biosciences in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $197.50.
Read Our Latest Stock Report on INBX
About Inhibrx Biosciences
(
Get Free Report)
Inhibrx, Inc, headquartered in La Jolla, California, is a clinical-stage biotechnology company focused on the discovery and development of next-generation protein therapeutics. The company's proprietary protein engineering platform enables the design and production of multispecific and multivalent biologics with tailored binding characteristics and favorable pharmacokinetic properties. By leveraging high-throughput screening and structure-based design, Inhibrx aims to create molecules that address challenging targets in oncology, regenerative medicine and other areas of unmet medical need.
The company's lead candidate, INBRX-109, is a tetravalent agonist of the receptor tyrosine kinase ROR2 designed to stimulate tissue repair and regeneration.
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