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

Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Kimberly Manhard sold 500 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $110.26, for a total transaction of $55,130.00. Following the completion of the transaction, the director owned 8,000 shares in the company, valued at approximately $882,080. This represents a 5.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Kimberly Manhard also recently made the following trade(s):

• On Friday, September 11th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The shares were sold at an average price of $111.78, for a total transaction of $55,890.00.
• On Tuesday, September 8th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The stock was sold at an average price of $115.14, for a total value of $57,570.00.

Inhibrx Biosciences Trading Down 4.4%

Shares of INBX traded down $4.86 during midday trading on Tuesday, hitting $105.61. 251,601 shares of the stock were exchanged, compared to its average volume of 320,513. Inhibrx Biosciences, Inc. has a 52-week low of $26.19 and a 52-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 stock has a fifty day simple moving average of $99.30 and a 200 day simple moving average of $93.64. The firm has a market cap of $1.55 billion, a P/E ratio of -11.89 and a beta of 3.66.

Inhibrx Biosciences (NASDAQ:INBX) last announced its earnings results on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06). On average, research analysts anticipate that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current fiscal year.

Institutional Trading of Inhibrx Biosciences

A number of large investors have recently made changes to their positions in INBX. Western Standard LLC acquired a new stake in Inhibrx Biosciences in the second quarter valued at approximately $4,453,000. Nicholas Investment Partners LP acquired a new position in Inhibrx Biosciences during the 2nd quarter worth approximately $2,032,000. BlackRock Inc. purchased a new stake in shares of Inhibrx Biosciences in the 2nd quarter valued at approximately $78,261,000. Parkman Healthcare Partners LLC purchased a new stake in shares of Inhibrx Biosciences in the 2nd quarter valued at approximately $24,346,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Inhibrx Biosciences in the 2nd quarter valued at $2,482,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on INBX. Citigroup restated a “market perform” rating on shares of Inhibrx Biosciences in a report on Thursday, August 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday. HC Wainwright started coverage on shares of Inhibrx Biosciences in a research note on Monday, August 24th. They issued a “buy” rating and a $245.00 price target for the company. Finally, Wall Street Zen lowered Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $197.50.

About Inhibrx Biosciences

Inhibrx Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing biologic medicines for serious diseases with limited treatment options. The company uses a proprietary protein-engineering platform to design novel therapeutic proteins, including multivalent and long-acting biologics intended to selectively affect disease-related biological pathways.

Inhibrx’s development programs have included INBRX-101, also known as efzofitimod, an engineered fibroblast growth factor 1 intended for the treatment of alpha-1 antitrypsin deficiency-associated emphysema and other inflammatory lung conditions.