SummitTX Capital L.P. Grows Position in Inhibrx Biosciences, Inc. $INBX

SummitTX Capital L.P. raised its stake in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) by 66.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 137,821 shares of the company’s stock after purchasing an additional 54,936 shares during the quarter. SummitTX Capital L.P.’s holdings in Inhibrx Biosciences were worth $9,266,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of INBX. Swiss National Bank acquired a new position in shares of Inhibrx Biosciences in the 1st quarter valued at $968,000. Moran Wealth Management LLC acquired a new stake in shares of Inhibrx Biosciences during the 1st quarter worth $213,000. Janney Montgomery Scott LLC increased its holdings in shares of Inhibrx Biosciences by 16.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,406 shares of the company’s stock worth $431,000 after buying an additional 911 shares during the last quarter. Corient Private Wealth LLC purchased a new position in shares of Inhibrx Biosciences in the 4th quarter worth $1,615,000. Finally, Invesco Ltd. raised its position in shares of Inhibrx Biosciences by 539.6% in the 4th quarter. Invesco Ltd. now owns 112,396 shares of the company’s stock worth $8,879,000 after buying an additional 94,822 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stifel Nicolaus started coverage on Inhibrx Biosciences in a research report on Wednesday, April 8th. They set a “buy” rating and a $150.00 price target for the company. Wall Street Zen upgraded Inhibrx Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. Lifesci Capital upgraded Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Finally, Zacks Research raised shares of Inhibrx Biosciences to a “hold” rating in a research report on Thursday, April 9th. One equities 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’s stock. According to data from MarketBeat, Inhibrx Biosciences presently has a consensus rating of “Hold” and an average price target of $150.00.

Inhibrx Biosciences Price Performance

Shares of Inhibrx Biosciences stock opened at $81.55 on Monday. Inhibrx Biosciences, Inc. has a twelve month low of $20.55 and a twelve month high of $155.29. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -9.72 and a beta of 3.41. 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 company has a fifty day moving average price of $95.28 and a 200 day moving average price of $87.28.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings data on Thursday, May 14th. The company reported ($2.15) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.47). Equities research analysts forecast 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.