Inhibrx Biosciences, Inc. (NASDAQ:INBX) Given Consensus Recommendation of “Hold” by Analysts

Inhibrx Biosciences, Inc. (NASDAQ:INBX) has been assigned a consensus rating of “Hold” from the six ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $150.00.

INBX has been the subject of several analyst reports. Zacks Research raised Inhibrx Biosciences to a “hold” rating in a research note on Thursday, April 9th. Stifel Nicolaus started coverage on Inhibrx Biosciences in a research report on Wednesday, April 8th. They set a “buy” rating and a $150.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. Wall Street Zen upgraded Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Lifesci Capital raised shares of Inhibrx Biosciences to a “strong-buy” rating in a research note on Friday, April 24th.

Inhibrx Biosciences Price Performance

Shares of NASDAQ INBX opened at $81.55 on Monday. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 12.58. Inhibrx Biosciences has a 12-month low of $20.55 and a 12-month high of $155.29. The firm’s 50-day moving average price is $95.28 and its 200-day moving average price is $87.28. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -9.72 and a beta of 3.41.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings results on Thursday, May 14th. The company reported ($2.15) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.47). On average, equities research analysts anticipate that Inhibrx Biosciences will post -10.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Inhibrx Biosciences

A number of large investors have recently made changes to their positions in INBX. Perceptive Advisors LLC grew 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 purchasing an additional 125,000 shares during the last quarter. Morgan Stanley lifted its stake in Inhibrx Biosciences by 163.7% in the fourth quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock worth $92,251,000 after purchasing an additional 724,872 shares during the last quarter. Sofinnova Investments Inc. boosted its position in shares of Inhibrx Biosciences by 1.5% during the second quarter. Sofinnova Investments Inc. now owns 708,678 shares of the company’s stock valued at $10,113,000 after buying an additional 10,762 shares during the period. Vanguard Group Inc. boosted its position in shares of Inhibrx Biosciences by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 623,084 shares of the company’s stock valued at $49,224,000 after buying an additional 28,166 shares during the period. Finally, Capital Research Global Investors purchased a new position in shares of Inhibrx Biosciences during the fourth quarter valued at approximately $33,304,000. 82.46% of the stock is 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.