Douglas Forsyth Acquires 2,500 Shares of Inhibrx Biosciences (NASDAQ:INBX) Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Douglas Forsyth purchased 2,500 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was bought at an average price of $114.65 per share, with a total value of $286,625.00. Following the completion of the acquisition, the director owned 227,064 shares in the company, valued at $26,032,887.60. This represents a 1.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Inhibrx Biosciences Trading Down 1.3%

Shares of INBX opened at $112.86 on Thursday. The stock’s 50-day moving average is $98.52 and its two-hundred day moving average is $92.96. The stock has a market cap of $1.66 billion, a PE ratio of -12.71 and a beta of 3.66. Inhibrx Biosciences, Inc. has a 12 month low of $26.19 and a 12 month high of $155.29. The company has a debt-to-equity ratio of 12.58, a current ratio of 5.07 and a quick ratio of 5.07.

Inhibrx Biosciences (NASDAQ:INBX) last posted its 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). Equities analysts forecast that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current fiscal year.

Institutional Trading of Inhibrx Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Persistent Asset Partners Ltd bought a new position in Inhibrx Biosciences during the 4th quarter valued at $27,000. Strs Ohio acquired a new stake in shares of Inhibrx Biosciences in the 1st quarter valued at about $27,000. Integrated Wealth Concepts LLC bought a new position in shares of Inhibrx Biosciences during the second quarter worth about $31,000. Public Employees Retirement System of Ohio bought a new stake in Inhibrx Biosciences in the third quarter valued at about $40,000. Finally, BNP Paribas Financial Markets raised its stake in Inhibrx Biosciences by 71.9% during the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock valued at $64,000 after buying an additional 789 shares in the last quarter. 82.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INBX shares. HC Wainwright started coverage on shares of Inhibrx Biosciences in a research note on Monday, August 24th. They set a “buy” rating and a $245.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. Citigroup reaffirmed a “market perform” rating on shares of Inhibrx Biosciences in a research note on Thursday, August 27th. Finally, Wall Street Zen lowered shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Inhibrx Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $197.50.

Inhibrx Biosciences News Roundup

Here are the key news stories impacting Inhibrx Biosciences this week:

• Positive Sentiment: Strong head-and-neck cancer results: INBRX-106 combined with Merck’s Keytruda produced a 48.3% confirmed overall response rate, compared with 26.5% for Keytruda alone. Six-month progression-free survival was 72.4% versus 42.8%, while interim median progression-free survival reached 9.6 months. Inhibrx Phase 2 HNSCC study results
• Positive Sentiment: Especially compelling HPV-positive subgroup: The combination generated an 80% response rate versus 33.3% with Keytruda alone, a 30% complete-response rate versus zero for monotherapy, and markedly better six-month progression-free survival. Inhibrx plans to add approximately 50 HPV-positive patients to the Phase 2 study, potentially supporting an accelerated-approval strategy. Reuters report on Inhibrx cancer study
• Positive Sentiment: Significant insider buying: CEO Mark Lappe bought 25,000 shares for about $2.65 million, while directors Jon Kayyem and Douglas Forsyth purchased 5,000 and 2,500 shares, respectively. The purchases may support investor confidence in management’s view of the company’s prospects. Inhibrx insider purchases
• Neutral Sentiment: Additional pipeline potential: Inhibrx is also developing ozekibart and INBRX-106 for rare cancers and larger immuno-oncology markets. Ozekibart’s FDA biologics-license application decision is expected by April 2027, leaving a potentially important catalyst ahead.
• Negative Sentiment: Market response remains lukewarm: Investors may have expected an even stronger catalyst from the HNSCC data, and the results remain from a mid-stage trial. Further enrollment, regulatory review, and confirmation in larger studies are still required before the opportunity can be fully valued. Analysis of the market response to Inhibrx HNSCC data

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.