Key Points
- CEO Mark Lappe bought 4,500 Inhibrx Biosciences shares for $453,420, increasing his position by 0.61% to 740,548 shares. He has also made two other sizable purchases recently, totaling 30,500 shares.
- INBX shares opened at $101.71, with a $1.50 billion market capitalization and a 52-week range of $28.16 to $155.29. The company recently reported a quarterly loss of $2.34 per share, missing estimates by $0.06.
- Analyst views remain mixed, but the stock carries a “Moderate Buy” consensus rating and a $197.50 average price target; institutional investors and hedge funds own 82.46% of outstanding shares.
Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) CEO Mark Lappe bought 4,500 shares of the stock in a transaction that occurred on Monday, September 28th. The stock was bought at an average price of $100.76 per share, with a total value of $453,420.00. Following the completion of the acquisition, the chief executive officer owned 740,548 shares of the company's stock, valued at $74,617,616.48. This trade represents a 0.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Mark Lappe also recently made the following trade(s):
- On Friday, September 25th, Mark Lappe purchased 5,500 shares of Inhibrx Biosciences stock. The shares were bought at an average cost of $99.16 per share, with a total value of $545,380.00.
- On Tuesday, September 8th, Mark Lappe purchased 25,000 shares of Inhibrx Biosciences stock. The shares were bought at an average cost of $105.82 per share, for a total transaction of $2,645,500.00.
Inhibrx Biosciences Stock Up 2.1%
Shares of INBX opened at $101.71 on Tuesday. Inhibrx Biosciences, Inc. has a fifty-two week low of $28.16 and a fifty-two week high of $155.29. The company's fifty day moving average is $101.59 and its two-hundred day moving average is $95.79. The firm has a market cap of $1.50 billion, a PE ratio of -11.45 and a beta of 3.66. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 12.58.
Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing analysts' consensus estimates of ($2.28) by ($0.06). Analysts forecast that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current year.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a research report on Monday, August 17th. HC Wainwright started coverage on shares of Inhibrx Biosciences in a research report on Monday, August 24th. They set a "buy" rating and a $245.00 price target for the company. Citigroup reiterated a "market perform" rating on shares of Inhibrx Biosciences in a report on Friday, September 18th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Inhibrx Biosciences in a report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $197.50.
Get Our Latest Report on INBX
Institutional Investors Weigh In On Inhibrx Biosciences
A number of large investors have recently added to or reduced their stakes in INBX. Integrated Wealth Concepts LLC purchased a new stake in Inhibrx Biosciences during the 2nd quarter worth $31,000. Quantbot Technologies LP acquired a new position in Inhibrx Biosciences in the 2nd quarter worth $68,000. State of Wyoming purchased a new position in Inhibrx Biosciences in the 2nd quarter valued at about $116,000. Hurley Capital LLC purchased a new position in Inhibrx Biosciences in the 4th quarter valued at about $131,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Inhibrx Biosciences during the second quarter valued at about $194,000. 82.46% of the stock is owned by institutional investors and hedge funds.
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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