Inhibrx Biosciences (NASDAQ:INBX) Posts Earnings Results, Misses Expectations By $0.06 EPS

Inhibrx Biosciences (NASDAQ:INBXGet Free Report) posted its quarterly earnings results on Thursday. The company reported ($2.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06), FiscalAI reports.

Inhibrx Biosciences Stock Performance

Shares of INBX stock traded down $1.35 during mid-day trading on Thursday, reaching $97.01. The stock had a trading volume of 251,196 shares, compared to its average volume of 314,311. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 12.58. The firm’s 50 day simple moving average is $90.73 and its 200 day simple moving average is $88.32. Inhibrx Biosciences has a one year low of $22.40 and a one year high of $155.29. The firm has a market cap of $1.42 billion, a PE ratio of -11.56 and a beta of 3.51.

Institutional Investors Weigh In On Inhibrx Biosciences

Several large investors have recently modified their holdings of the stock. Strs Ohio bought a new position in shares of Inhibrx Biosciences during the 1st quarter worth approximately $27,000. Persistent Asset Partners Ltd bought a new position in shares of Inhibrx Biosciences during the fourth quarter valued at $27,000. Public Employees Retirement System of Ohio bought a new stake in shares of Inhibrx Biosciences in the 3rd quarter worth about $40,000. BNP Paribas Financial Markets increased its position in shares of Inhibrx Biosciences by 71.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock worth $64,000 after purchasing an additional 789 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in Inhibrx Biosciences during the 4th quarter valued at about $66,000. 82.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INBX has been the topic of several recent research reports. Lifesci Capital raised shares of Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. Wall Street Zen upgraded shares of Inhibrx Biosciences from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $150.00.

Check Out Our Latest Analysis on Inhibrx Biosciences

About Inhibrx Biosciences

(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.

See Also

Earnings History for Inhibrx Biosciences (NASDAQ:INBX)

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