Corient Private Wealth LP Makes New $2.71 Million Investment in Inhibrx Biosciences, Inc. $INBX

Corient Private Wealth LP purchased a new stake in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) in the second quarter, HoldingsChannel reports. The institutional investor purchased 28,653 shares of the company’s stock, valued at approximately $2,715,000.

Several other hedge funds and other institutional investors also recently modified their holdings of INBX. Persistent Asset Partners Ltd bought a new position in shares of Inhibrx Biosciences in the fourth quarter worth approximately $27,000. Quantbot Technologies LP bought a new stake in Inhibrx Biosciences during the second quarter valued at approximately $68,000. Daiwa Securities Group Inc. purchased a new position in Inhibrx Biosciences in the 4th quarter worth approximately $66,000. Public Employees Retirement System of Ohio purchased a new position in Inhibrx Biosciences in the 3rd quarter worth approximately $40,000. Finally, State of Wyoming bought a new position in shares of Inhibrx Biosciences in the 2nd quarter worth $116,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Inhibrx Biosciences Stock Down 1.6%

Shares of NASDAQ INBX opened at $124.66 on Wednesday. The stock has a market capitalization of $1.83 billion, a P/E ratio of -14.04 and a beta of 3.65. Inhibrx Biosciences, Inc. has a one year low of $26.19 and a one year high of $155.29. The firm’s 50 day simple moving average is $95.60 and its two-hundred day simple moving average is $91.26. The company has a debt-to-equity ratio of 12.58, a current ratio of 5.07 and a quick ratio of 5.07.

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

Wall Street Analysts Forecast Growth

INBX has been the topic of several research reports. Wall Street Zen cut shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. HC Wainwright initiated coverage on shares of Inhibrx Biosciences in a research report on Monday, August 24th. They issued a “buy” rating and a $245.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. Finally, Citigroup restated a “market perform” rating on shares of Inhibrx Biosciences in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $197.50.

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.