256,950 Shares in Inhibrx Biosciences, Inc. $INBX Purchased by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC acquired a new position in Inhibrx Biosciences, Inc. (NASDAQ:INBX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 256,950 shares of the company’s stock, valued at approximately $24,346,000. Inhibrx Biosciences comprises approximately 2.5% of Parkman Healthcare Partners LLC’s investment portfolio, making the stock its 10th largest position. Parkman Healthcare Partners LLC owned 1.75% of Inhibrx Biosciences as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Inhibrx Biosciences in the 2nd quarter valued at $78,261,000. Morgan Stanley lifted its stake in shares of Inhibrx Biosciences by 163.7% during the fourth quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock valued at $92,251,000 after acquiring an additional 724,872 shares during the period. Capital Research Global Investors acquired a new position in shares of Inhibrx Biosciences during the fourth quarter valued at $33,304,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Inhibrx Biosciences in the fourth quarter valued at about $20,856,000. Finally, Caligan Partners LP bought a new position in Inhibrx Biosciences in the third quarter valued at about $7,961,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on INBX. Wall Street Zen lowered Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. HC Wainwright initiated coverage on shares of Inhibrx Biosciences in a research report on Monday. They set a “buy” rating and a $245.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $197.50.

Inhibrx Biosciences Stock Performance

Shares of Inhibrx Biosciences stock opened at $104.94 on Tuesday. The firm has a fifty day moving average of $91.85 and a two-hundred day moving average of $89.52. The company has a debt-to-equity ratio of 12.58, a quick ratio of 5.07 and a current ratio of 5.07. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -11.82 and a beta of 3.51. Inhibrx Biosciences, Inc. has a 52 week low of $24.27 and a 52 week high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.28) by ($0.06). As a group, equities research analysts predict that Inhibrx Biosciences, Inc. will post -10.88 EPS for the current year.

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.