Inhibrx Biosciences (NASDAQ:INBX) Hits New 12-Month High – Here’s What Happened

by · The Cerbat Gem

Inhibrx Biosciences, Inc. (NASDAQ:INBX – Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $61.21 and last traded at $58.85, with a volume of 1094495 shares. The stock had previously closed at $57.29.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Inhibrx Biosciences in a research report on Wednesday, October 8th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Inhibrx Biosciences in a research report on Friday, August 22nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Inhibrx Biosciences currently has a consensus rating of “Reduce”.

Get Our Latest Stock Report on Inhibrx Biosciences

Inhibrx Biosciences Stock Performance

The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 1.45. The stock has a market cap of $852.15 million, a price-to-earnings ratio of -5.56 and a beta of 0.51. The company has a 50 day simple moving average of $31.37 and a 200 day simple moving average of $21.50.

Inhibrx Biosciences (NASDAQ:INBX – Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($1.85) EPS for the quarter, topping the consensus estimate of ($2.92) by $1.07. The business had revenue of $1.30 million for the quarter. As a group, equities research analysts forecast that Inhibrx Biosciences, Inc. will post 104.88 EPS for the current year.

Insider Buying and Selling

In other Inhibrx Biosciences news, major shareholder Global Investors Lp Viking sold 350,000 shares of the business’s stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $32.25, for a total transaction of $11,287,500.00. Following the completion of the transaction, the insider owned 67,018 shares of the company’s stock, valued at approximately $2,161,330.50. The trade was a 83.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new position in Inhibrx Biosciences during the first quarter worth about $27,000. Bank of America Corp DE increased its stake in shares of Inhibrx Biosciences by 19.2% in the second quarter. Bank of America Corp DE now owns 9,130 shares of the company’s stock valued at $130,000 after buying an additional 1,469 shares during the period. Bluefin Capital Management LLC acquired a new position in shares of Inhibrx Biosciences in the first quarter valued at approximately $160,000. Invesco Ltd. acquired a new position in shares of Inhibrx Biosciences in the second quarter valued at approximately $193,000. Finally, Ethic Inc. acquired a new position in shares of Inhibrx Biosciences in the second quarter valued at approximately $227,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Inhibrx Biosciences Company Profile

(Get Free Report)

Inhibrx, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidate includes INBRX-101, an alpha-1 antitrypsin (AAT)-Fc fusion protein therapeutic candidate, which is in Phase 1 clinical trials for use in the treatment of patients with AAT deficiency.

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