Inhibrx (NASDAQ:INBX) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Inhibrx (NASDAQ:INBX) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Inhibrx Inc. is a clinical-stage biotechnology company. The company’s pipeline is focused on oncology and orphan diseases. Inhibrx Inc. is based in SAN DIEGO. “

Other research analysts also recently issued research reports about the company. Jefferies Financial Group assumed coverage on Inhibrx in a report on Monday, September 14th. They issued a buy rating and a $30.00 target price on the stock. Lifesci Capital reaffirmed an outperform rating on shares of Inhibrx in a research note on Thursday, October 15th. Evercore ISI assumed coverage on Inhibrx in a research note on Monday, September 14th. They issued an outperform rating and a $30.00 price objective on the stock. Finally, Credit Suisse Group assumed coverage on Inhibrx in a research note on Monday, September 14th. They issued an outperform rating and a $26.00 price objective on the stock. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $28.67.

INBX stock opened at $25.10 on Wednesday. Inhibrx has a fifty-two week low of $15.20 and a fifty-two week high of $26.98. The firm has a 50-day moving average price of $18.65.

Inhibrx (NASDAQ:INBX) last posted its earnings results on Friday, November 13th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.17). On average, equities research analysts forecast that Inhibrx will post -2.27 EPS for the current year.

In other Inhibrx news, major shareholder Global Investors Lp Viking bought 180,219 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were bought at an average price of $18.92 per share, with a total value of $3,409,743.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional investors and hedge funds have recently modified their holdings of the stock. M&T Bank Corp bought a new stake in Inhibrx during the 3rd quarter valued at approximately $209,000. ExodusPoint Capital Management LP bought a new stake in Inhibrx during the 3rd quarter valued at approximately $254,000. Platinum Investment Management Ltd. bought a new stake in Inhibrx during the 3rd quarter valued at approximately $1,350,000. BlackRock Inc. bought a new stake in Inhibrx during the 3rd quarter valued at approximately $1,749,000. Finally, Victory Capital Management Inc. bought a new stake in Inhibrx during the 3rd quarter valued at approximately $2,168,000.

Inhibrx Company Profile

Inhibrx, Inc, a clinical-stage biotechnology company, focuses on developing a pipeline of novel biologic therapeutic candidates. Its therapeutic candidates include INBRX-109, a multivalent agonist of death receptor 5, which is in Phase 1 clinical trials in patients with solid tumors, including sarcomas; and INBRX-105, an antagonist of programmed death ligand 1 (PD-L1) and a conditional agonist of 4-1BB that is in Phase 1 clinical trials to treat patients with PD-L1 expressing tumors.

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