Nicholas Investment Partners LP Purchases Shares of 21,443 Inhibrx Biosciences, Inc. $INBX

Nicholas Investment Partners LP acquired a new stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX) in the second quarter, HoldingsChannel reports. The fund acquired 21,443 shares of the company’s stock, valued at approximately $2,032,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Perceptive Advisors LLC lifted its stake in Inhibrx Biosciences by 9.4% in the 4th quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company’s stock valued at $114,764,000 after purchasing an additional 125,000 shares during the last quarter. Morgan Stanley increased its position in Inhibrx Biosciences by 163.7% during the fourth quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock worth $92,251,000 after buying an additional 724,872 shares during the last quarter. BlackRock Inc. acquired a new position in Inhibrx Biosciences during the second quarter worth approximately $78,261,000. Sofinnova Investments Inc. raised its stake in Inhibrx Biosciences by 1.5% in the second quarter. Sofinnova Investments Inc. now owns 708,678 shares of the company’s stock valued at $10,113,000 after buying an additional 10,762 shares during the period. Finally, Vanguard Group Inc. raised 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 buying an additional 28,166 shares during the period. 82.46% of the stock is owned by institutional investors.

Inhibrx Biosciences Trading Up 1.3%

Shares of INBX stock opened at $104.94 on Tuesday. The firm has a 50 day moving average price of $91.85 and a two-hundred day moving average price of $89.52. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 12.58. The company has a market capitalization of $1.54 billion, a PE ratio of -11.82 and a beta of 3.51. Inhibrx Biosciences, Inc. has a 12-month low of $24.27 and a 12-month high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last posted its earnings results on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing the consensus estimate of ($2.28) by ($0.06). As a group, analysts predict that Inhibrx Biosciences, Inc. will post -10.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INBX has been the subject of a number of recent analyst reports. HC Wainwright began coverage on Inhibrx Biosciences in a research report on Monday. They issued a “buy” rating and a $245.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. Finally, Wall Street Zen downgraded Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $197.50.

Inhibrx Biosciences Company 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.