Douglas Forsyth Acquires 2,500 Shares of Inhibrx Biosciences (NASDAQ:INBX) Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Douglas Forsyth bought 2,500 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were purchased at an average price of $114.65 per share, with a total value of $286,625.00. Following the transaction, the director owned 227,064 shares of the company’s stock, valued at $26,032,887.60. The trade was a 1.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Inhibrx Biosciences Trading Down 5.6%

INBX traded down $6.83 during trading on Tuesday, reaching $114.34. 1,619,300 shares of the company’s stock were exchanged, compared to its average volume of 319,628. Inhibrx Biosciences, Inc. has a fifty-two week low of $26.19 and a fifty-two week high of $155.29. The company has a debt-to-equity ratio of 12.58, a quick ratio of 5.07 and a current ratio of 5.07. The firm has a market capitalization of $1.68 billion, a PE ratio of -12.88 and a beta of 3.66. The company’s fifty day moving average price is $97.77 and its 200-day moving average price is $92.51.

Inhibrx Biosciences (NASDAQ:INBX) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06). As a group, equities analysts forecast that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the company. HC Wainwright started coverage on 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 research note on Thursday, August 27th. 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, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $197.50.

Hedge Funds Weigh In On Inhibrx Biosciences

Several hedge funds have recently bought and sold shares of INBX. Persistent Asset Partners Ltd acquired a new position in shares of Inhibrx Biosciences in the 4th quarter valued at approximately $27,000. Quantbot Technologies LP acquired a new stake in shares of Inhibrx Biosciences during the 2nd quarter worth approximately $68,000. BNP Paribas Financial Markets increased its stake in Inhibrx Biosciences by 71.9% in the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock valued at $64,000 after acquiring an additional 789 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in Inhibrx Biosciences in the fourth quarter valued at approximately $66,000. Finally, Janney Montgomery Scott LLC lifted its stake in Inhibrx Biosciences by 16.6% during the first quarter. Janney Montgomery Scott LLC now owns 6,406 shares of the company’s stock worth $431,000 after purchasing an additional 911 shares during the last quarter. 82.46% of the stock is owned by institutional investors.

Inhibrx Biosciences Company Profile

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.