Inhibrx Biosciences (NASDAQ:INBX) Major Shareholder Sells $11,287,500.00 in Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) major shareholder Global Investors Lp Viking sold 350,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $32.25, for a total value of $11,287,500.00. Following the sale, the insider directly owned 67,018 shares of the company’s stock, valued at approximately $2,161,330.50. This represents a 83.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Inhibrx Biosciences Stock Down 7.2%

INBX opened at $32.47 on Friday. The business has a 50 day moving average price of $27.64 and a two-hundred day moving average price of $19.46. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 1.45. The company has a market cap of $470.17 million, a PE ratio of -3.07 and a beta of 0.51. Inhibrx Biosciences, Inc. has a 52 week low of $10.81 and a 52 week high of $37.53.

Inhibrx Biosciences (NASDAQ:INBX) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($1.85) EPS for the quarter, beating the consensus estimate of ($2.92) by $1.07. The company had revenue of $1.30 million for the quarter. As a group, research analysts anticipate that Inhibrx Biosciences, Inc. will post 104.88 EPS for the current year.

Hedge Funds Weigh In On Inhibrx Biosciences

Large investors have recently modified their holdings of the business. Woodline Partners LP purchased a new position in shares of Inhibrx Biosciences during the 1st quarter worth approximately $5,015,000. Bluefin Capital Management LLC purchased a new position in Inhibrx Biosciences in the 1st quarter valued at approximately $160,000. Acadian Asset Management LLC increased its stake in Inhibrx Biosciences by 34.2% in the 1st quarter. Acadian Asset Management LLC now owns 192,498 shares of the company’s stock valued at $2,689,000 after purchasing an additional 49,023 shares in the last quarter. GAMMA Investing LLC increased its stake in Inhibrx Biosciences by 9,834.8% in the 1st quarter. GAMMA Investing LLC now owns 6,855 shares of the company’s stock valued at $960,000 after purchasing an additional 6,786 shares in the last quarter. Finally, Groupe la Francaise purchased a new position in Inhibrx Biosciences in the 1st quarter valued at approximately $1,062,000. 82.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on INBX. JMP Securities reaffirmed a “market perform” rating on shares of Inhibrx Biosciences in a research note on Friday, August 22nd. Wall Street Zen raised Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Inhibrx Biosciences in a research note on Wednesday. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Inhibrx Biosciences has an average rating of “Reduce”.

Inhibrx Biosciences Company Profile

Inhibrx, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidate includes INBRX-101, an alpha-1 antitrypsin (AAT)-Fc fusion protein therapeutic candidate, which is in Phase 1 clinical trials for use in the treatment of patients with AAT deficiency.