Inhibrx Biosciences (NASDAQ:INBX – Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($2.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47), FiscalAI reports.
Inhibrx Biosciences Price Performance
INBX traded down $8.24 on Friday, hitting $107.92. 220,550 shares of the company’s stock were exchanged, compared to its average volume of 318,583. Inhibrx Biosciences has a fifty-two week low of $12.02 and a fifty-two week high of $155.29. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -11.79 and a beta of 3.88. The firm has a 50-day moving average price of $86.96 and a 200-day moving average price of $81.89. The company has a current ratio of 3.93, a quick ratio of 3.93 and a debt-to-equity ratio of 12.58.
Wall Street Analyst Weigh In
INBX has been the topic of several analyst reports. Lifesci Capital upgraded shares of Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. Zacks Research raised Inhibrx Biosciences to a “hold” rating in a report on Thursday, April 9th. Wall Street Zen upgraded Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Stifel Nicolaus initiated coverage on Inhibrx Biosciences in a research note on Wednesday, April 8th. They set a “buy” rating and a $150.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Inhibrx Biosciences in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $150.00.
Hedge Funds Weigh In On Inhibrx Biosciences
Institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio acquired a new stake in Inhibrx Biosciences in the 1st quarter valued at about $27,000. Russell Investments Group Ltd. increased its holdings in shares of Inhibrx Biosciences by 11.0% in the second quarter. Russell Investments Group Ltd. now owns 29,993 shares of the company’s stock valued at $428,000 after purchasing an additional 2,963 shares during the last quarter. Invesco Ltd. purchased a new position in Inhibrx Biosciences during the second quarter worth approximately $193,000. Bank of America Corp DE boosted its stake in Inhibrx Biosciences by 19.2% during the second quarter. Bank of America Corp DE now owns 9,130 shares of the company’s stock worth $130,000 after buying an additional 1,469 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in Inhibrx Biosciences in the 2nd quarter valued at $235,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.
Inhibrx Biosciences Company Profile
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.
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