Inhibrx Biosciences (NASDAQ:INBX) Reaches New 52-Week High – Should You Buy?
by Danessa Lincoln · The Markets DailyShares of Inhibrx Biosciences, Inc. (NASDAQ:INBX – Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $84.19 and last traded at $83.18, with a volume of 51718 shares traded. The stock had previously closed at $81.99.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on INBX. JMP Securities reiterated a “market perform” rating on shares of Inhibrx Biosciences in a research report on Friday, August 22nd. Wall Street Zen upgraded Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Inhibrx Biosciences in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Inhibrx Biosciences has a consensus rating of “Reduce”.
View Our Latest Stock Analysis on INBX
Inhibrx Biosciences Stock Up 2.1%
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 company has a market capitalization of $1.21 billion, a P/E ratio of -7.91 and a beta of 1.09. The company has a 50-day moving average of $37.80 and a two-hundred day moving average of $24.39.
Inhibrx Biosciences (NASDAQ:INBX – Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($1.85) earnings per share for the quarter, beating the consensus estimate of ($2.92) by $1.07. The firm had revenue of $1.30 million for the quarter. On average, research analysts predict that Inhibrx Biosciences, Inc. will post 104.88 EPS for the current year.
Insider Transactions at Inhibrx Biosciences
In other Inhibrx Biosciences news, major shareholder Global Investors Lp Viking sold 350,000 shares of Inhibrx Biosciences stock in a transaction on 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 in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. Sofinnova Investments Inc. raised its stake in Inhibrx Biosciences by 1.5% during the second quarter. Sofinnova Investments Inc. now owns 708,678 shares of the company’s stock valued at $10,113,000 after buying an additional 10,762 shares during the last quarter. Bridgeway Capital Management LLC purchased a new position in Inhibrx Biosciences during the second quarter valued at $235,000. Bank of America Corp DE raised its stake in Inhibrx Biosciences by 19.2% during 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 last quarter. Mark Asset Management LP purchased a new position in shares of Inhibrx Biosciences in the second quarter worth $243,000. Finally, Kennedy Capital Management LLC raised its stake in shares of Inhibrx Biosciences by 7.5% in the second quarter. Kennedy Capital Management LLC now owns 177,318 shares of the company’s stock worth $2,530,000 after purchasing an additional 12,342 shares during the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.
About Inhibrx Biosciences
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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