6,389 Shares in Inhibrx Biosciences, Inc. $INBX Bought by PSP Research LLC

PSP Research LLC purchased a new position in Inhibrx Biosciences, Inc. (NASDAQ:INBX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,389 shares of the company’s stock, valued at approximately $505,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Boothbay Fund Management LLC grew its stake in shares of Inhibrx Biosciences by 179.2% in the third quarter. Boothbay Fund Management LLC now owns 78,812 shares of the company’s stock worth $2,654,000 after acquiring an additional 50,582 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Inhibrx Biosciences in the fourth quarter worth $1,271,000. Readystate Asset Management LP grew its stake in shares of Inhibrx Biosciences by 534.1% in the third quarter. Readystate Asset Management LP now owns 170,158 shares of the company’s stock worth $5,731,000 after acquiring an additional 143,324 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Inhibrx Biosciences in the third quarter worth $249,000. Finally, HighVista Strategies LLC purchased a new stake in shares of Inhibrx Biosciences in the third quarter worth $257,000. 82.46% of the stock is owned by hedge funds and other institutional investors.

Inhibrx Biosciences Trading Up 3.5%

Shares of NASDAQ:INBX opened at $109.51 on Wednesday. The company has a market cap of $1.61 billion, a P/E ratio of -13.05 and a beta of 3.88. The company has a debt-to-equity ratio of 12.58, a current ratio of 6.46 and a quick ratio of 6.46. Inhibrx Biosciences, Inc. has a 1 year low of $12.24 and a 1 year high of $155.29. The stock’s fifty day moving average price is $89.15 and its 200-day moving average price is $82.73.

Inhibrx Biosciences (NASDAQ:INBX) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($2.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47). Sell-side analysts expect that Inhibrx Biosciences, Inc. will post -10.15 earnings per share for the current year.

Analysts Set New Price Targets

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

About Inhibrx Biosciences

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.