Inhibrx Biosciences (NASDAQ:INBX) Stock: Insider Mark Lappe Acquires 5,500 Shares

Inhibrx Biosciences, Inc. (NASDAQ:INBX) CEO Mark Lappe bought 5,500 shares of the business’s stock in a transaction on Friday, September 25th. The stock was purchased at an average cost of $99.16 per share, with a total value of $545,380.00. Following the purchase, the chief executive officer owned 736,048 shares of the company’s stock, valued at $72,986,519.68. This represents a 0.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Mark Lappe also recently made the following trade(s):

• On Monday, September 28th, Mark Lappe purchased 4,500 shares of Inhibrx Biosciences stock. The shares were acquired at an average price of $100.76 per share, for a total transaction of $453,420.00.
• On Tuesday, September 8th, Mark Lappe purchased 25,000 shares of Inhibrx Biosciences stock. The shares were acquired at an average cost of $105.82 per share, for a total transaction of $2,645,500.00.

Inhibrx Biosciences Trading Up 2.1%

Shares of INBX traded up $2.10 during mid-day trading on Monday, reaching $101.71. The company’s stock had a trading volume of 187,060 shares, compared to its average volume of 319,038. The stock has a market cap of $1.50 billion, a PE ratio of -11.45 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. Inhibrx Biosciences, Inc. has a 52 week low of $28.16 and a 52 week high of $155.29. The company’s fifty day moving average price is $101.24 and its two-hundred day moving average price is $95.58.

Inhibrx Biosciences (NASDAQ:INBX) last released 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 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. HC Wainwright started coverage on Inhibrx Biosciences in a research note on Monday, August 24th. They set a “buy” rating and a $245.00 price objective on the stock. Wall Street Zen lowered Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Citigroup restated a “market perform” rating on shares of Inhibrx Biosciences in a report on Friday, September 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday, September 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $197.50.

Institutional Investors Weigh In On Inhibrx Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC grew its holdings in Inhibrx Biosciences by 9.4% in the 4th quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company’s stock worth $114,764,000 after acquiring an additional 125,000 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Inhibrx Biosciences during the second quarter valued at about $79,698,000. BlackRock Inc. bought a new position in shares of Inhibrx Biosciences during the second quarter valued at about $78,261,000. Sofinnova Investments Inc. boosted its holdings in shares of Inhibrx Biosciences by 3.3% during the fourth quarter. Sofinnova Investments Inc. now owns 454,657 shares of the company’s stock worth $35,918,000 after purchasing an additional 14,565 shares during the period. Finally, Capital Research Global Investors purchased a new stake in shares of Inhibrx Biosciences during the fourth quarter worth about $33,304,000. 82.46% of the stock is currently owned by institutional investors.

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.