Sanofi Takes $17.83 Million Position in Inhibrx, Inc. (NASDAQ:INBX)

Sanofi bought a new stake in Inhibrx, Inc. (NASDAQ:INBX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,157,926 shares of the company’s stock, valued at approximately $17,832,000. Inhibrx makes up 10.2% of Sanofi’s holdings, making the stock its 3rd largest position. Sanofi owned 8.00% of Inhibrx at the end of the most recent reporting period.

Several other large investors have also modified their holdings of INBX. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Inhibrx during the 4th quarter worth $348,000. Exchange Traded Concepts LLC acquired a new stake in Inhibrx during the 4th quarter worth $148,000. Bank of New York Mellon Corp acquired a new stake in Inhibrx during the 4th quarter worth $792,000. Barclays PLC acquired a new stake in Inhibrx during the 4th quarter worth $289,000. Finally, Meridian Wealth Advisors LLC acquired a new stake in Inhibrx during the 4th quarter worth $385,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities reiterated a “market perform” rating on shares of Inhibrx in a research note on Thursday.

Inhibrx Trading Up 2.6%

Shares of NASDAQ:INBX opened at $12.33 on Friday. The firm has a fifty day moving average price of $12.64 and a 200 day moving average price of $13.67. Inhibrx, Inc. has a 1-year low of $10.80 and a 1-year high of $34.73.

Inhibrx (NASDAQ:INBX) last released its earnings results on Wednesday, May 14th. The company reported ($2.80) EPS for the quarter, missing the consensus estimate of ($2.55) by ($0.25). On average, research analysts forecast that Inhibrx, Inc. will post 104.88 EPS for the current fiscal year.

About Inhibrx

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.