Inhibrx Biosciences (NASDAQ:INBX) Releases Earnings Results, Misses Expectations By $0.47 EPS

Inhibrx Biosciences (NASDAQ:INBX) announced its earnings results on Thursday. The company reported ($2.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47), FiscalAI reports.

Inhibrx Biosciences Price Performance

NASDAQ INBX traded down $7.52 during trading on Friday, hitting $108.64. 394,289 shares of the company’s stock were exchanged, compared to its average volume of 732,228. The company has a current ratio of 3.93, a quick ratio of 3.93 and a debt-to-equity ratio of 12.58. The company has a market cap of $1.59 billion, a PE ratio of -12.95 and a beta of 3.88. Inhibrx Biosciences has a fifty-two week low of $12.02 and a fifty-two week high of $155.29. The stock’s 50 day moving average price is $87.64 and its two-hundred day moving average price is $82.07.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Persistent Asset Partners Ltd acquired a new position in Inhibrx Biosciences during the fourth quarter worth about $27,000. BNP Paribas Financial Markets raised its stake in Inhibrx Biosciences by 71.9% during the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock worth $64,000 after acquiring an additional 789 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Inhibrx Biosciences during the fourth quarter worth about $66,000. Public Employees Retirement System of Ohio acquired a new position in Inhibrx Biosciences during the third quarter worth about $40,000. Finally, Diadema Partners LP acquired a new position in Inhibrx Biosciences during the fourth quarter worth about $103,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wall Street Zen raised Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Zacks Research raised Inhibrx Biosciences to a “hold” rating in a research note on Thursday, April 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Inhibrx Biosciences in a research note on Thursday, January 22nd. Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a research note on Friday, April 24th. Finally, Stifel Nicolaus assumed coverage on Inhibrx Biosciences in a research note on Wednesday, April 8th. They issued a “buy” rating and a $150.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $150.00.

Inhibrx Biosciences Company Profile

Inhibrx, Inc, headquartered in La Jolla, California, is a clinical-stage biotechnology company focused on the discovery and development of next-generation protein therapeutics. The company’s proprietary protein engineering platform enables the design and production of multispecific and multivalent biologics with tailored binding characteristics and favorable pharmacokinetic properties. By leveraging high-throughput screening and structure-based design, Inhibrx aims to create molecules that address challenging targets in oncology, regenerative medicine and other areas of unmet medical need.

The company’s lead candidate, INBRX-109, is a tetravalent agonist of the receptor tyrosine kinase ROR2 designed to stimulate tissue repair and regeneration.