Quantinno Capital Management LP Grows Position in Inhibrx Biosciences, Inc. $INBX

Quantinno Capital Management LP raised its stake in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) by 76.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,704 shares of the company’s stock after purchasing an additional 7,666 shares during the period. Quantinno Capital Management LP’s holdings in Inhibrx Biosciences were worth $1,190,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of INBX. SummitTX Capital L.P. raised its stake in Inhibrx Biosciences by 66.3% during the first quarter. SummitTX Capital L.P. now owns 137,821 shares of the company’s stock worth $9,266,000 after purchasing an additional 54,936 shares during the period. Swiss National Bank acquired a new stake in shares of Inhibrx Biosciences during the 1st quarter worth $968,000. Moran Wealth Management LLC purchased a new position in shares of Inhibrx Biosciences in the 1st quarter worth $213,000. Janney Montgomery Scott LLC raised its position in shares of Inhibrx Biosciences by 16.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,406 shares of the company’s stock worth $431,000 after buying an additional 911 shares during the period. Finally, Corient Private Wealth LLC purchased a new position in shares of Inhibrx Biosciences in the 4th quarter worth $1,615,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Inhibrx Biosciences Price Performance

INBX opened at $88.37 on Friday. Inhibrx Biosciences, Inc. has a 52-week low of $22.40 and a 52-week high of $155.29. The company has a 50 day moving average of $90.88 and a two-hundred day moving average of $88.48. The company has a market cap of $1.30 billion, a P/E ratio of -9.95 and a beta of 3.51. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 12.58.

Inhibrx Biosciences (NASDAQ:INBX) last issued its earnings results on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06). On average, analysts expect that Inhibrx Biosciences, Inc. will post -10.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INBX. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Lifesci Capital upgraded Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Finally, Wall Street Zen raised Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. One 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $150.00.

Inhibrx Biosciences Profile

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.