Ratan Capital Management LP Buys Shares of 16,612 Inhibrx Biosciences, Inc. $INBX

Ratan Capital Management LP bought a new position in Inhibrx Biosciences, Inc. (NASDAQ:INBX) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 16,612 shares of the company’s stock, valued at approximately $1,574,000. Inhibrx Biosciences accounts for about 0.5% of Ratan Capital Management LP’s portfolio, making the stock its 28th biggest position.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of America Corp DE acquired a new stake in shares of Inhibrx Biosciences during the 2nd quarter valued at about $79,698,000. BlackRock Inc. bought a new stake in shares of Inhibrx Biosciences in the 2nd quarter valued at approximately $78,261,000. Morgan Stanley increased its holdings in Inhibrx Biosciences by 163.7% in the fourth quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock worth $92,251,000 after buying an additional 724,872 shares during the last quarter. Capital Research Global Investors acquired a new position in Inhibrx Biosciences in the fourth quarter worth approximately $33,304,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Inhibrx Biosciences during the fourth quarter valued at approximately $20,856,000. 82.46% of the stock is owned by hedge funds and other institutional investors.

Inhibrx Biosciences Stock Performance

Shares of NASDAQ INBX opened at $123.41 on Friday. The business’s 50-day simple moving average is $94.29 and its 200-day simple moving average is $90.63. The company has a debt-to-equity ratio of 12.58, a quick ratio of 5.07 and a current ratio of 5.07. Inhibrx Biosciences, Inc. has a 52 week low of $26.19 and a 52 week high of $155.29. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -13.90 and a beta of 3.51.

Inhibrx Biosciences (NASDAQ:INBX) last posted its earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share for the quarter, missing the consensus estimate of ($2.28) by ($0.06). As a group, equities research analysts expect that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on INBX shares. Citigroup reiterated a “market perform” rating on shares of Inhibrx Biosciences in a research note on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. HC Wainwright started coverage on shares of Inhibrx Biosciences in a report on Monday, August 24th. They set a “buy” rating and a $245.00 price target on the stock. Finally, Wall Street Zen cut shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $197.50.

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.