Key Points
- CEO Mark Lappe purchased 10,040 Inhibrx Biosciences shares at an average price of $84.56, investing approximately $849,000 and increasing his stake by 1.36% to 745,588 shares.
- The purchase extends a series of insider buys, following acquisitions totaling 35,000 shares in September at prices ranging from $99.16 to $105.82.
- INBX recently traded at $85.26 after reporting a quarterly EPS loss of $2.34, while analysts maintained a “Moderate Buy” consensus with an average price target of $197.50.
Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) CEO Mark Lappe purchased 10,040 shares of the stock in a transaction that occurred on Wednesday, October 14th. The stock was acquired at an average cost of $84.56 per share, for a total transaction of $848,982.40. Following the completion of the acquisition, the chief executive officer owned 745,588 shares in the company, valued at $63,046,921.28. This represents a 1.36% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Mark Lappe also recently made the following trade(s):
- On Monday, September 28th, Mark Lappe purchased 4,500 shares of Inhibrx Biosciences stock. The stock was acquired at an average price of $100.76 per share, with a total value of $453,420.00.
- On Friday, September 25th, Mark Lappe acquired 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 acquired 25,000 shares of Inhibrx Biosciences stock. The shares were bought at an average cost of $105.82 per share, with a total value of $2,645,500.00.
Inhibrx Biosciences Price Performance
Inhibrx Biosciences stock opened at $85.26 on Thursday. The stock has a market cap of $1.26 billion, a P/E ratio of -9.60 and a beta of 3.81. Inhibrx Biosciences, Inc. has a 1 year low of $28.16 and a 1 year high of $155.29. The firm's 50 day moving average price is $104.24 and its 200-day moving average price is $98.09.
Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing the consensus estimate of ($2.28) by ($0.06). As a group, equities analysts expect that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current year.
Institutional Investors Weigh In On Inhibrx Biosciences
Institutional investors and hedge funds have recently modified their holdings of the business. Perceptive Advisors LLC boosted its holdings in Inhibrx Biosciences by 9.4% during the 4th quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company's stock valued at $114,764,000 after acquiring an additional 125,000 shares during the period. Bank of America Corp DE purchased a new stake in Inhibrx Biosciences in the second quarter worth $79,698,000. BlackRock Inc. purchased a new stake in Inhibrx Biosciences in the second quarter worth $78,261,000. Sofinnova Investments Inc. increased its stake in Inhibrx Biosciences by 3.3% in the fourth quarter. Sofinnova Investments Inc. now owns 454,657 shares of the company's stock worth $35,918,000 after purchasing an additional 14,565 shares during the period. Finally, Parkman Healthcare Partners LLC bought a new stake in shares of Inhibrx Biosciences during the second quarter worth $24,346,000. 82.46% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts have issued reports on INBX shares. HC Wainwright started coverage on shares of Inhibrx Biosciences in a report on Monday, August 24th. They issued a "buy" rating and a $245.00 price target on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Inhibrx Biosciences in a report on Friday, September 11th. Wall Street Zen downgraded shares of Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a report on Monday, August 17th. Finally, Citigroup restated a "market perform" rating on shares of Inhibrx Biosciences in a research report on Friday, September 18th. One 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $197.50.
View Our Latest Report on INBX
Inhibrx Biosciences Company Profile
(
Get Free Report)
Inhibrx Biosciences, Inc is a biotechnology company focused on discovering and developing engineered biologic medicines for serious diseases with limited treatment options. The company's platform has been used to create multifunctional proteins and antibody-based therapies designed to address targets that may be difficult to treat with conventional drugs.
Its leading program was INBRX-101, an engineered recombinant human alpha-1 antitrypsin therapy developed for patients with alpha-1 antitrypsin deficiency-associated lung disease.
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