Kimberly Manhard Sells 500 Shares of Inhibrx Biosciences (NASDAQ:INBX) Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Kimberly Manhard sold 500 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $115.14, for a total value of $57,570.00. Following the completion of the sale, the director directly owned 9,500 shares of the company’s stock, valued at approximately $1,093,830. This represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Inhibrx Biosciences Trading Down 1.9%

NASDAQ:INBX opened at $109.27 on Friday. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 12.58. The business’s 50 day moving average is $99.03 and its two-hundred day moving average is $93.31. Inhibrx Biosciences, Inc. has a 52 week low of $26.19 and a 52 week high of $155.29. The company has a market cap of $1.61 billion, a PE ratio of -12.31 and a beta of 3.66.

Inhibrx Biosciences (NASDAQ:INBX) last issued its earnings results on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing the consensus estimate of ($2.28) by ($0.06). On average, analysts predict that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in INBX. Persistent Asset Partners Ltd acquired a new stake in Inhibrx Biosciences in the fourth quarter worth $27,000. Strs Ohio bought a new position in shares of Inhibrx Biosciences during the first quarter worth about $27,000. Integrated Wealth Concepts LLC bought a new position in shares of Inhibrx Biosciences during the second quarter worth about $31,000. Public Employees Retirement System of Ohio bought a new position in shares of Inhibrx Biosciences during the third quarter worth about $40,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Inhibrx Biosciences by 71.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock worth $64,000 after acquiring an additional 789 shares during the period. 82.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

INBX has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. Wall Street Zen lowered shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. HC Wainwright assumed coverage on shares of Inhibrx Biosciences in a research report on Monday, August 24th. They set a “buy” rating and a $245.00 price objective for the company. Finally, Citigroup reiterated a “market perform” rating on shares of Inhibrx Biosciences in a research note on Thursday, August 27th. One equities 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 has a consensus rating of “Moderate Buy” and a consensus price target of $197.50.

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.