Key Points
- Director Jon Faiz Kayyem bought 5,000 Inhibrx Biosciences shares at $100 each, investing $500,000 and increasing his holdings to 434,360 shares valued at approximately $43.4 million.
- Kayyem has made two additional purchases recently, acquiring 5,000 shares on September 16 at $100 and 5,000 shares on September 8 at $113.52.
- INBX reported a quarterly loss of $2.34 per share, missing estimates, while analyst sentiment remains mixed but leans toward a “Moderate Buy” consensus 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 business's stock in a transaction that occurred on Wednesday, September 23rd. The stock was bought at an average cost of $100.00 per share, for a total transaction of $500,000.00. Following the acquisition, the director owned 434,360 shares in the company, valued at approximately $43,436,000. The trade was a 1.16% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Jon Faiz Kayyem also recently made the following trade(s):
- On Wednesday, September 16th, Jon Kayyem acquired 5,000 shares of Inhibrx Biosciences stock. The shares were bought at an average price of $100.00 per share, with a total value of $500,000.00.
- On Tuesday, September 8th, Jon Kayyem acquired 5,000 shares of Inhibrx Biosciences stock. The shares were bought at an average price of $113.52 per share, with a total value of $567,600.00.
Inhibrx Biosciences Price Performance
Shares of NASDAQ INBX opened at $100.33 on Thursday. Inhibrx Biosciences, Inc. has a 1-year low of $28.16 and a 1-year high of $155.29. The company has a debt-to-equity ratio of 12.58, a current ratio of 5.07 and a quick ratio of 5.07. The business's fifty day moving average price is $100.77 and its two-hundred day moving average price is $95.16. The firm has a market capitalization of $1.48 billion, a PE ratio of -11.30 and a beta of 3.66.
Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last announced its quarterly 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). On average, research analysts expect that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of INBX. Bank of America Corp DE bought a new stake in shares of Inhibrx Biosciences during the second quarter valued at about $79,698,000. BlackRock Inc. bought a new position in Inhibrx Biosciences in the 2nd quarter valued at about $78,261,000. Capital Research Global Investors bought a new position in Inhibrx Biosciences in the 4th quarter valued at about $33,304,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Inhibrx Biosciences during the 4th quarter valued at about $20,856,000. Finally, Parkman Healthcare Partners LLC acquired a new position in Inhibrx Biosciences during the 2nd quarter valued at about $24,346,000. 82.46% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have issued reports on INBX shares. Citigroup reissued a "market perform" rating on shares of Inhibrx Biosciences in a research note on Friday, September 18th. Wall Street Zen lowered shares of Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a research note on Monday, August 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Inhibrx Biosciences in a report on Friday, September 11th. 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 research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $197.50.
Get Our Latest Analysis on INBX
About Inhibrx Biosciences
(
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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