Sofinnova Investments Inc. increased its stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX – Free Report) by 3.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 454,657 shares of the company’s stock after purchasing an additional 14,565 shares during the quarter. Inhibrx Biosciences makes up 1.5% of Sofinnova Investments Inc.’s investment portfolio, making the stock its 21st largest holding. Sofinnova Investments Inc.’s holdings in Inhibrx Biosciences were worth $35,918,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of Inhibrx Biosciences during the first quarter worth approximately $27,000. Public Employees Retirement System of Ohio bought a new stake in shares of Inhibrx Biosciences during the third quarter valued at approximately $40,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Inhibrx Biosciences by 26.3% during the fourth 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 during the period. BNP Paribas Financial Markets grew its position in Inhibrx Biosciences by 71.9% in the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock valued at $64,000 after acquiring an additional 789 shares during the period. Finally, Daiwa Securities Group Inc. bought a new stake in Inhibrx Biosciences in the fourth quarter valued at $66,000. Institutional investors own 82.46% of the company’s stock.
Wall Street Analysts Forecast Growth
INBX has been the topic of a number of recent analyst reports. Zacks Research raised Inhibrx Biosciences to a “hold” rating in a research note on Thursday, April 9th. Stifel Nicolaus assumed coverage on Inhibrx Biosciences in a research note on Wednesday, April 8th. They set a “buy” rating and a $150.00 price target on the stock. Wall Street Zen raised Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $150.00.
Inhibrx Biosciences Stock Up 1.4%
NASDAQ:INBX opened at $93.51 on Tuesday. The stock has a 50-day simple moving average of $100.95 and a 200 day simple moving average of $85.11. Inhibrx Biosciences, Inc. has a 52-week low of $13.97 and a 52-week high of $155.29. The company has a debt-to-equity ratio of 12.58, a quick ratio of 6.46 and a current ratio of 6.46. The company has a market cap of $1.37 billion, a PE ratio of -11.15 and a beta of 3.33.
Inhibrx Biosciences (NASDAQ:INBX – Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($2.15) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.47). On average, sell-side analysts expect that Inhibrx Biosciences, Inc. will post -10.15 EPS for the current fiscal year.
Inhibrx Biosciences 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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