Inhibrx Biosciences, Inc. (NASDAQ:INBX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Inhibrx Biosciences, Inc. (NASDAQ:INBXGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $197.50.

Several equities analysts recently weighed in on INBX shares. Wall Street Zen lowered shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. HC Wainwright started coverage on shares of Inhibrx Biosciences in a research note on Monday, August 24th. They issued a “buy” rating and a $245.00 price objective on the stock. Finally, Citigroup reaffirmed a “market perform” rating on shares of Inhibrx Biosciences in a research report on Thursday, August 27th.

View Our Latest Report on INBX

Insider Activity

In other Inhibrx Biosciences news, Director Douglas Forsyth acquired 2,500 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was purchased at an average price of $114.65 per share, for a total transaction of $286,625.00. Following the transaction, the director owned 227,064 shares in the company, valued at $26,032,887.60. This trade represents a 1.11% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Lappe acquired 25,000 shares of Inhibrx Biosciences stock in a transaction on Tuesday, September 8th. The stock was acquired at an average cost of $105.82 per share, for a total transaction of $2,645,500.00. Following the purchase, the chief executive officer owned 730,548 shares of the company’s stock, valued at approximately $77,306,589.36. This represents a 3.54% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 32,500 shares of company stock worth $3,499,725. 18.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Inhibrx Biosciences

A number of institutional investors have recently modified their holdings of INBX. Perceptive Advisors LLC increased its position in Inhibrx Biosciences by 9.4% in the fourth quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company’s stock worth $114,764,000 after purchasing an additional 125,000 shares during the period. Bank of America Corp DE bought a new stake in shares of Inhibrx Biosciences during the second quarter worth approximately $79,698,000. BlackRock Inc. bought a new stake in shares of Inhibrx Biosciences during the second quarter worth approximately $78,261,000. California State Teachers Retirement System boosted its stake in Inhibrx Biosciences by 149,396.5% in the second quarter. California State Teachers Retirement System now owns 734,028 shares of the company’s stock valued at $69,549,000 after acquiring an additional 733,537 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Inhibrx Biosciences by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 623,084 shares of the company’s stock valued at $49,224,000 after acquiring an additional 28,166 shares during the last quarter. 82.46% of the stock is owned by institutional investors.

Inhibrx Biosciences Stock Up 1.1%

INBX stock opened at $110.47 on Tuesday. The firm’s 50-day moving average is $99.30 and its two-hundred day moving average is $93.64. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -12.44 and a beta of 3.66. Inhibrx Biosciences has a 52 week low of $26.19 and a 52 week high of $155.29. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 12.58.

Inhibrx Biosciences (NASDAQ:INBXGet Free Report) last issued its quarterly earnings results 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). On average, analysts forecast that Inhibrx Biosciences will post -9.91 earnings per share for the current fiscal year.

About Inhibrx Biosciences

(Get Free Report)

Inhibrx Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing biologic medicines for serious diseases with limited treatment options. The company uses a proprietary protein-engineering platform to design novel therapeutic proteins, including multivalent and long-acting biologics intended to selectively affect disease-related biological pathways.

Inhibrx’s development programs have included INBRX-101, also known as efzofitimod, an engineered fibroblast growth factor 1 intended for the treatment of alpha-1 antitrypsin deficiency-associated emphysema and other inflammatory lung conditions.

See Also

Analyst Recommendations for Inhibrx Biosciences (NASDAQ:INBX)

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.