Inhibrx Biosciences (NASDAQ:INBX) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Inhibrx Biosciences (NASDAQ:INBX) from a sell rating to a hold rating in a research note released on Sunday morning.

Several other equities research analysts have also commented on INBX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. 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 issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $150.00.

Inhibrx Biosciences Stock Performance

NASDAQ INBX opened at $88.66 on Friday. The business has a 50 day moving average price of $90.82 and a 200 day moving average price of $87.92. The company has a market capitalization of $1.30 billion, a P/E ratio of -10.57 and a beta of 3.51. Inhibrx Biosciences has a 1-year low of $20.55 and a 1-year high of $155.29. The company has a debt-to-equity ratio of 12.58, a current ratio of 6.46 and a quick ratio of 6.46.

Inhibrx Biosciences (NASDAQ:INBX) last posted its earnings results on Thursday, May 14th. The company reported ($2.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47). Sell-side analysts expect that Inhibrx Biosciences will post -10.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Persistent Asset Partners Ltd acquired a new stake in shares of Inhibrx Biosciences during the fourth quarter worth $27,000. Strs Ohio purchased a new position in Inhibrx Biosciences during the first quarter worth about $27,000. Public Employees Retirement System of Ohio purchased a new position in Inhibrx Biosciences during the third quarter worth about $40,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 buying an additional 147 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Inhibrx Biosciences by 71.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock worth $64,000 after buying an additional 789 shares during the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.

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.