Kennedy Capital Management LLC Cuts Position in Inhibrx Biosciences, Inc. $INBX

Kennedy Capital Management LLC lessened its stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX) by 55.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 71,488 shares of the company’s stock after selling 90,421 shares during the quarter. Kennedy Capital Management LLC’s holdings in Inhibrx Biosciences were worth $5,648,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Inhibrx Biosciences by 26.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company’s stock valued at $56,000 after purchasing an additional 147 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in shares of Inhibrx Biosciences in the 4th quarter valued at about $66,000. Public Employees Retirement System of Ohio purchased a new position in shares of Inhibrx Biosciences in the 3rd quarter valued at about $40,000. 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 valued at $64,000 after purchasing an additional 789 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of Inhibrx Biosciences in the 1st quarter valued at about $27,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on INBX. Zacks Research upgraded shares of Inhibrx Biosciences to a “hold” rating in a report on Thursday, April 9th. Stifel Nicolaus began coverage on shares of Inhibrx Biosciences in a report on Wednesday, April 8th. They set a “buy” rating and a $150.00 target price for the company. Lifesci Capital upgraded shares of Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Finally, Wall Street Zen upgraded shares of Inhibrx Biosciences from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Inhibrx Biosciences has a consensus rating of “Hold” and a consensus target price of $150.00.

Inhibrx Biosciences Stock Performance

NASDAQ:INBX opened at $93.51 on Tuesday. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 12.58. The firm has a 50-day moving average price of $100.95 and a two-hundred day moving average price of $85.11. Inhibrx Biosciences, Inc. has a twelve month low of $13.97 and a twelve month high of $155.29. The company has a market capitalization of $1.37 billion, a P/E ratio of -11.15 and a beta of 3.33.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings results on Thursday, May 14th. The company reported ($2.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by ($0.47). As a group, research analysts expect that Inhibrx Biosciences, Inc. will post -10.15 earnings per share for the current fiscal 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.