Inhibrx Biosciences (NASDAQ:INBX) Announces Quarterly Earnings Results

Inhibrx Biosciences (NASDAQ:INBXGet 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.

Get Our Latest Research Report on Inhibrx Biosciences

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

(Get Free Report)

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.

Further Reading

Earnings History for Inhibrx Biosciences (NASDAQ:INBX)

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