Inhibrx Biosciences, Inc. (NASDAQ:INBX – Get Free Report) Director Jon Kayyem acquired 5,000 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was bought at an average cost of $100.00 per share, for a total transaction of $500,000.00. Following the completion of the transaction, the director directly owned 429,360 shares of the company’s stock, valued at $42,936,000. This trade represents a 1.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Jon Faiz Kayyem also recently made the following trade(s):
- On Tuesday, September 8th, Jon Kayyem bought 5,000 shares of Inhibrx Biosciences stock. The stock was bought at an average cost of $113.52 per share, with a total value of $567,600.00.
Inhibrx Biosciences Price Performance
INBX stock opened at $104.73 on Friday. The firm has a market cap of $1.54 billion, a P/E ratio of -11.79 and a beta of 3.66. The company has a debt-to-equity ratio of 12.58, a quick ratio of 5.07 and a current ratio of 5.07. Inhibrx Biosciences, Inc. has a 1 year low of $26.20 and a 1 year high of $155.29. The stock has a 50-day simple moving average of $99.51 and a 200-day simple moving average of $94.21.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. HC Wainwright initiated coverage on shares of Inhibrx Biosciences in a research note on Monday, August 24th. They set a “buy” rating and a $245.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday, September 11th. Wall Street Zen downgraded Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Inhibrx Biosciences in a research report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Inhibrx Biosciences presently has an average rating of “Moderate Buy” and an average price target of $197.50.
Check Out Our Latest Report on INBX
Hedge Funds Weigh In On Inhibrx Biosciences
Several institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC bought a new stake in shares of Inhibrx Biosciences in the 2nd quarter worth about $31,000. Quantbot Technologies LP acquired a new stake in shares of Inhibrx Biosciences in the 2nd quarter valued at about $68,000. State of Wyoming bought a new position in shares of Inhibrx Biosciences during the second quarter worth about $116,000. Hurley Capital LLC bought a new position in shares of Inhibrx Biosciences during the fourth quarter worth about $131,000. Finally, Seven Fleet Capital Management LP acquired a new position in Inhibrx Biosciences in the first quarter worth about $167,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.
Inhibrx Biosciences Company Profile
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.
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