Jon Faiz Kayyem Acquires 5,000 Shares of Inhibrx Biosciences (NASDAQ:INBX) Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Jon Kayyem acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was bought at an average cost of $100.00 per share, for a total transaction of $500,000.00. Following the completion of the transaction, the director directly owned 429,360 shares of the company’s stock, valued at approximately $42,936,000. This trade represents a 1.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Jon Faiz Kayyem also recently made the following trade(s):

• On Tuesday, September 8th, Jon Kayyem purchased 5,000 shares of Inhibrx Biosciences stock. The stock was bought at an average price of $113.52 per share, for a total transaction of $567,600.00.

Inhibrx Biosciences Trading Up 4.4%

Shares of INBX stock opened at $109.35 on Friday. Inhibrx Biosciences, Inc. has a 12-month low of $26.20 and a 12-month high of $155.29. The company has a market capitalization of $1.61 billion, a PE ratio of -12.31 and a beta of 3.66. The firm has a 50 day moving average price of $99.84 and a two-hundred day moving average price of $94.32. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 12.58.

Inhibrx Biosciences (NASDAQ:INBX) last posted its earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06). As a group, analysts predict that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current year.

Institutional Investors Weigh In On Inhibrx Biosciences

A number of large investors have recently bought and sold shares of the company. Western Standard LLC bought a new stake in Inhibrx Biosciences during the second quarter worth $4,453,000. Nicholas Investment Partners LP bought a new position in shares of Inhibrx Biosciences in the 2nd quarter valued at $2,032,000. BlackRock Inc. acquired a new position in shares of Inhibrx Biosciences during the 2nd quarter worth $78,261,000. Parkman Healthcare Partners LLC acquired a new position in shares of Inhibrx Biosciences during the 2nd quarter worth $24,346,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Inhibrx Biosciences during the 2nd quarter worth $2,482,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of 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 research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday, September 11th. Finally, HC Wainwright assumed 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. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.