Kimberly Manhard Sells 500 Shares of Inhibrx Biosciences (NASDAQ:INBX) Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Kimberly Manhard sold 500 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $115.14, for a total transaction of $57,570.00. Following the completion of the sale, the director owned 9,500 shares of the company’s stock, valued at $1,093,830. This trade represents a 5.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Inhibrx Biosciences Price Performance

INBX traded down $1.44 on Thursday, hitting $111.42. 313,774 shares of the company were exchanged, compared to its average volume of 362,108. 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 $1.64 billion, a P/E ratio of -12.55 and a beta of 3.66. The business’s fifty day moving average is $98.80 and its 200 day moving average is $93.20.

Inhibrx Biosciences (NASDAQ:INBX) last released 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, sell-side analysts anticipate that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. HC Wainwright assumed coverage on Inhibrx Biosciences in a report on Monday, August 24th. They issued a “buy” rating and a $245.00 price target for the company. Wall Street Zen lowered Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Inhibrx Biosciences in a research report on Thursday, August 27th. One investment 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $197.50.

Institutional Investors Weigh In On Inhibrx Biosciences

Large investors have recently added to or reduced their stakes in the stock. Persistent Asset Partners Ltd bought a new stake in shares of Inhibrx Biosciences during the fourth quarter valued at about $27,000. Strs Ohio bought a new position in shares of Inhibrx Biosciences during the 1st quarter valued at about $27,000. Integrated Wealth Concepts LLC bought a new stake in shares of Inhibrx Biosciences in the 2nd quarter worth approximately $31,000. Public Employees Retirement System of Ohio acquired a new stake in Inhibrx Biosciences during the third quarter valued at approximately $40,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of 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 buying an additional 789 shares in the last quarter. 82.46% of the stock is owned by institutional investors and hedge funds.

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.