Inhibrx Biosciences (NASDAQ:INBX) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Inhibrx Biosciences (NASDAQ:INBX) from a sell rating to a hold rating in a report released on Saturday.

Several other equities analysts have also recently weighed in on INBX. Weiss Ratings reissued a “sell (d)” rating on shares of Inhibrx Biosciences in a report on Thursday, January 22nd. Stifel Nicolaus assumed coverage on Inhibrx Biosciences in a report on Wednesday, April 8th. They set a “buy” rating and a $150.00 price target on the stock. Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Finally, Zacks Research raised Inhibrx Biosciences to a “hold” rating in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $150.00.

Inhibrx Biosciences Price Performance

NASDAQ INBX opened at $128.79 on Friday. The business’s fifty day moving average price is $79.34 and its 200-day moving average price is $76.69. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -14.25 and a beta of 3.87. The company has a debt-to-equity ratio of 12.58, a current ratio of 3.93 and a quick ratio of 3.93. Inhibrx Biosciences has a 1-year low of $10.84 and a 1-year high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings results on Thursday, March 19th. The company reported ($2.11) earnings per share for the quarter, missing the consensus estimate of ($2.08) by ($0.03). On average, equities analysts predict that Inhibrx Biosciences will post -11.15 earnings per share for the current year.

Institutional Investors Weigh In On Inhibrx Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Persistent Asset Partners Ltd purchased a new stake in shares of Inhibrx Biosciences in the 4th quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Inhibrx Biosciences by 26.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company’s stock worth $56,000 after purchasing an additional 147 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Inhibrx Biosciences in the 4th quarter worth $66,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Inhibrx Biosciences in the 3rd quarter worth $40,000. Finally, Diadema Partners LP purchased a new stake in shares of Inhibrx Biosciences in the 4th quarter worth $103,000. 82.46% of the stock is currently owned by hedge funds and other 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.