Key Points
- Director Jon Kayyem bought 5,000 Inhibrx Biosciences shares at $100 each, investing $500,000 and increasing his holdings to 429,360 shares. He also purchased 5,000 shares earlier in September at $113.52 each.
- INBX shares opened at $104.73 and have traded between $26.20 and $155.29 over the past year. The company recently reported a quarterly loss of $2.34 per share, slightly worse than analysts’ $2.28 estimate.
- Analyst opinions remain mixed, ranging from “strong sell” to “buy,” but the overall consensus is “Moderate Buy” with an average price target of $197.50.
Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) Director Jon Kayyem purchased 5,000 shares of the company's stock in a transaction that occurred on Wednesday, September 16th. The shares were purchased at an average cost of $100.00 per share, for a total transaction of $500,000.00. Following the completion of the transaction, the director owned 429,360 shares in the company, valued at approximately $42,936,000. This represents a 1.18% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Jon Faiz Kayyem also recently made the following trade(s):
- On Tuesday, September 8th, Jon Kayyem acquired 5,000 shares of Inhibrx Biosciences stock. The stock was acquired at an average cost of $113.52 per share, with a total value of $567,600.00.
Inhibrx Biosciences Stock Up 2.9%
INBX stock opened at $104.73 on Friday. The company has a debt-to-equity ratio of 12.58, a current ratio of 5.07 and a quick ratio of 5.07. Inhibrx Biosciences, Inc. has a 1-year low of $26.20 and a 1-year high of $155.29. The firm has a fifty day moving average price of $99.51 and a two-hundred day moving average price of $94.21. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -11.79 and a beta of 3.66.
Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.28) by ($0.06). Research analysts predict that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current year.
Wall Street Analyst Weigh In
INBX has been the subject of a number of research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Inhibrx Biosciences in a research note on Friday, September 11th. Wall Street Zen cut Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a research report on Monday, August 17th. Citigroup reissued a "market perform" rating on shares of Inhibrx Biosciences in a report on Thursday, August 27th. Finally, HC Wainwright initiated coverage on Inhibrx Biosciences in a research report on Monday, August 24th. They set a "buy" rating and a $245.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $197.50.
Read Our Latest Analysis on INBX
Institutional Trading of Inhibrx Biosciences
A number of large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in Inhibrx Biosciences in the 2nd quarter valued at about $31,000. Quantbot Technologies LP acquired a new position in Inhibrx Biosciences during the 2nd quarter valued at about $68,000. Janney Montgomery Scott LLC raised its position in shares of Inhibrx Biosciences by 16.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,406 shares of the company's stock worth $431,000 after buying an additional 911 shares in the last quarter. State of Wyoming bought a new stake in shares of Inhibrx Biosciences during the 2nd quarter worth about $116,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Inhibrx Biosciences by 51.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,228 shares of the company's stock worth $284,000 after acquiring an additional 1,443 shares during the period. Institutional investors and hedge funds own 82.46% of the company's stock.
Inhibrx Biosciences Company Profile
(
Get Free Report)
Inhibrx Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing biologic medicines for serious diseases with limited treatment options. The company uses a proprietary protein-engineering platform to design novel therapeutic proteins, including multivalent and long-acting biologics intended to selectively affect disease-related biological pathways.
Inhibrx's development programs have included INBRX-101, also known as efzofitimod, an engineered fibroblast growth factor 1 intended for the treatment of alpha-1 antitrypsin deficiency-associated emphysema and other inflammatory lung conditions.
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