Inhibrx Biosciences, Inc. $INBX Shares Bought by SummitTX Capital L.P.

SummitTX Capital L.P. grew its holdings in Inhibrx Biosciences, Inc. (NASDAQ:INBX) by 66.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,821 shares of the company’s stock after purchasing an additional 54,936 shares during the quarter. SummitTX Capital L.P. owned approximately 0.94% of Inhibrx Biosciences worth $9,266,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of INBX. Strs Ohio acquired a new position in shares of Inhibrx Biosciences during the 1st quarter worth approximately $27,000. Russell Investments Group Ltd. grew its holdings in Inhibrx Biosciences by 11.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 29,993 shares of the company’s stock valued at $428,000 after buying an additional 2,963 shares during the last quarter. Invesco Ltd. acquired a new stake in Inhibrx Biosciences during the 2nd quarter valued at $193,000. Bank of America Corp DE grew its holdings in Inhibrx Biosciences by 19.2% during the 2nd quarter. Bank of America Corp DE now owns 9,130 shares of the company’s stock valued at $130,000 after buying an additional 1,469 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new position in Inhibrx Biosciences during the second quarter worth $235,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Inhibrx Biosciences Stock Performance

Shares of Inhibrx Biosciences stock opened at $81.55 on Monday. Inhibrx Biosciences, Inc. has a fifty-two week low of $20.55 and a fifty-two week high of $155.29. The firm has a market cap of $1.20 billion, a PE ratio of -9.72 and a beta of 3.41. The business’s fifty day moving average is $95.28 and its two-hundred day moving average is $87.28. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 12.58.

Inhibrx Biosciences (NASDAQ:INBX) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($2.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by ($0.47). Analysts anticipate that Inhibrx Biosciences, Inc. will post -10.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INBX has been the topic of several recent research reports. Wall Street Zen upgraded Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Stifel Nicolaus assumed coverage on Inhibrx Biosciences in a research report on Wednesday, April 8th. They set a “buy” rating and a $150.00 price objective for the company. Zacks Research raised shares of Inhibrx Biosciences to a “hold” rating in a research note on Thursday, April 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. Finally, Lifesci Capital upgraded shares of Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $150.00.

About Inhibrx Biosciences

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.