Inhibrx Biosciences (NASDAQ:INBX) Director Buys $567,600.00 in Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBXGet Free Report) Director Jon Kayyem bought 5,000 shares of Inhibrx Biosciences stock in a transaction that occurred on Tuesday, September 8th. The stock was purchased at an average cost of $113.52 per share, with a total value of $567,600.00. Following the completion of the acquisition, the director directly owned 424,360 shares in the company, valued at $48,173,347.20. This represents a 1.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Inhibrx Biosciences Price Performance

Shares of NASDAQ:INBX opened at $111.42 on Friday. The company has a debt-to-equity ratio of 12.58, a current ratio of 5.07 and a quick ratio of 5.07. Inhibrx Biosciences, Inc. has a 1-year low of $26.19 and a 1-year high of $155.29. The company has a market capitalization of $1.64 billion, a P/E ratio of -12.55 and a beta of 3.66. The firm’s 50 day simple moving average is $98.80 and its two-hundred day simple moving average is $93.20.

Inhibrx Biosciences (NASDAQ:INBXGet Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($2.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06). Research analysts expect that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current fiscal year.

Institutional Trading of Inhibrx Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of INBX. Persistent Asset Partners Ltd bought a new position in shares of Inhibrx Biosciences during the 4th quarter valued at about $27,000. Strs Ohio bought a new stake in shares of Inhibrx Biosciences in the first quarter worth about $27,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Inhibrx Biosciences in the second quarter worth about $31,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Inhibrx Biosciences in the third quarter worth about $40,000. Finally, BNP Paribas Financial Markets boosted its stake in Inhibrx Biosciences by 71.9% during the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock valued at $64,000 after buying an additional 789 shares during the last quarter. 82.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on INBX. Wall Street Zen downgraded Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Citigroup reiterated a “market perform” rating on shares of Inhibrx Biosciences in a research report on Thursday, August 27th. HC Wainwright initiated coverage on Inhibrx Biosciences in a research note on Monday, August 24th. They set a “buy” rating and a $245.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Inhibrx Biosciences presently has an average rating of “Moderate Buy” and an average price target of $197.50.

Read Our Latest Report 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.

Further Reading

Receive News & Ratings for Inhibrx Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inhibrx Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.