Inhibrx Biosciences, Inc. (NASDAQ:INBX – Get Free Report) has been given an average rating of “Hold” by the six research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $150.00.
A number of equities analysts have recently weighed in on INBX shares. Stifel Nicolaus assumed coverage on Inhibrx Biosciences in a research note on Wednesday, April 8th. They issued a “buy” rating and a $150.00 price objective for the company. Zacks Research raised shares of Inhibrx Biosciences to a “hold” rating in a research note on Thursday, April 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Lifesci Capital raised shares of Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Finally, Wall Street Zen upgraded Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th.
Get Our Latest Stock Analysis on Inhibrx Biosciences
Inhibrx Biosciences Stock Performance
Inhibrx Biosciences (NASDAQ:INBX – Get Free Report) last released its earnings results on Thursday, May 14th. The company reported ($2.15) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.47). As a group, equities research analysts expect that Inhibrx Biosciences will post -10.15 earnings per share for the current year.
Institutional Trading of Inhibrx Biosciences
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new stake in Inhibrx Biosciences in the first quarter worth about $27,000. Russell Investments Group Ltd. boosted its holdings in Inhibrx Biosciences by 11.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 29,993 shares of the company’s stock valued at $428,000 after acquiring an additional 2,963 shares during the period. Invesco Ltd. purchased a new stake in shares of Inhibrx Biosciences during the second quarter valued at $193,000. Bank of America Corp DE increased its stake in shares of Inhibrx Biosciences by 19.2% during the second quarter. Bank of America Corp DE now owns 9,130 shares of the company’s stock valued at $130,000 after buying an additional 1,469 shares during the period. Finally, Bridgeway Capital Management LLC bought a new position in shares of Inhibrx Biosciences during the second quarter valued at approximately $235,000. 82.46% of the stock is owned by hedge funds and other institutional investors.
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.
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