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

Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Kimberly Manhard sold 500 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $111.78, for a total value of $55,890.00. Following the completion of the sale, the director owned 8,500 shares of the company’s stock, valued at approximately $950,130. This represents a 5.56% 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 hyperlink.

Kimberly Manhard also recently made the following trade(s):

• On Monday, September 14th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The stock was sold at an average price of $110.26, for a total transaction of $55,130.00.
• On Tuesday, September 8th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The shares were sold at an average price of $115.14, for a total transaction of $57,570.00.

Inhibrx Biosciences Trading Down 4.4%

Shares of INBX opened at $105.61 on Wednesday. Inhibrx Biosciences, Inc. has a twelve month low of $26.19 and a twelve month high of $155.29. The company has a market cap of $1.55 billion, a P/E ratio of -11.89 and a beta of 3.66. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 12.58. The company’s fifty day simple moving average is $99.40 and its 200-day simple moving average is $93.82.

Inhibrx Biosciences (NASDAQ:INBX) last released its 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, analysts expect that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current year.

Institutional Trading of Inhibrx Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new position in Inhibrx Biosciences during the 2nd quarter worth about $31,000. Quantbot Technologies LP bought a new stake in shares of Inhibrx Biosciences in the 2nd quarter valued at about $68,000. State of Wyoming purchased a new stake in shares of Inhibrx Biosciences in the 2nd quarter worth approximately $116,000. Hurley Capital LLC purchased a new stake in shares of Inhibrx Biosciences in the 4th quarter worth approximately $131,000. Finally, Seven Fleet Capital Management LP bought a new position in shares of Inhibrx Biosciences during the first quarter valued at approximately $167,000. 82.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INBX has been the subject of several recent analyst reports. Wall Street Zen lowered Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Citigroup reiterated a “market perform” rating on shares of Inhibrx Biosciences in a report on Thursday, August 27th. HC Wainwright assumed coverage on Inhibrx Biosciences in a report on Monday, August 24th. They set a “buy” rating and a $245.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $197.50.

About Inhibrx Biosciences

Inhibrx Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing biologic medicines for serious diseases with limited treatment options. The company uses a proprietary protein-engineering platform to design novel therapeutic proteins, including multivalent and long-acting biologics intended to selectively affect disease-related biological pathways.

Inhibrx’s development programs have included INBRX-101, also known as efzofitimod, an engineered fibroblast growth factor 1 intended for the treatment of alpha-1 antitrypsin deficiency-associated emphysema and other inflammatory lung conditions.