Inhibrx Biosciences, Inc. (NASDAQ:INBX) Stock Has Average Price Target of $197.50 According to Analysts

Shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) have earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $197.50.

A number of research firms have recently weighed in on INBX. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday, September 11th. Wall Street Zen lowered shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. HC Wainwright started coverage on shares of Inhibrx Biosciences in a report on Monday, August 24th. They issued a “buy” rating and a $245.00 price target on the stock. Finally, Citigroup reiterated a “market perform” rating on shares of Inhibrx Biosciences in a research note on Friday, September 18th.

Insider Activity at Inhibrx Biosciences

In other news, Director Kimberly Manhard sold 500 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $110.26, for a total transaction of $55,130.00. Following the transaction, the director owned 8,000 shares of the company’s stock, valued at approximately $882,080. This trade represents a 5.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jon Kayyem purchased 5,000 shares of Inhibrx Biosciences stock in a transaction dated Wednesday, September 23rd. The shares were bought at an average cost of $100.00 per share, for a total transaction of $500,000.00. Following the transaction, the director directly owned 434,360 shares of the company’s stock, valued at approximately $43,436,000. The trade was a 1.16% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 52,500 shares of company stock worth $5,498,525 and have sold 1,500 shares worth $168,590. 18.26% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of INBX. Integrated Wealth Concepts LLC acquired a new position in shares of Inhibrx Biosciences in the 2nd quarter valued at about $31,000. Quantbot Technologies LP bought a new stake in shares of Inhibrx Biosciences during the 2nd quarter valued at about $68,000. State of Wyoming acquired a new stake in Inhibrx Biosciences during the second quarter worth about $116,000. Hurley Capital LLC acquired a new stake in Inhibrx Biosciences during the fourth quarter worth about $131,000. Finally, Farther Finance Advisors LLC lifted its holdings in Inhibrx Biosciences by 10,888.2% in the third quarter. Farther Finance Advisors LLC now owns 1,868 shares of the company’s stock worth $187,000 after acquiring an additional 1,851 shares during the last quarter. Institutional investors own 82.46% of the company’s stock.

Inhibrx Biosciences Stock Performance

Shares of INBX opened at $95.01 on Friday. The company has a market capitalization of $1.40 billion, a P/E ratio of -10.70 and a beta of 3.81. Inhibrx Biosciences has a one year low of $28.16 and a one year high of $155.29. The stock has a 50-day moving average price of $104.00 and a 200 day moving average price of $97.39.

Inhibrx Biosciences (NASDAQ:INBX) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($2.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06). As a group, equities research analysts forecast that Inhibrx Biosciences will post -9.91 earnings per share for the current fiscal year.

Inhibrx Biosciences Company Profile

Inhibrx Biosciences, Inc is a biotechnology company focused on discovering and developing engineered biologic medicines for serious diseases with limited treatment options. The company’s platform has been used to create multifunctional proteins and antibody-based therapies designed to address targets that may be difficult to treat with conventional drugs.

Its leading program was INBRX-101, an engineered recombinant human alpha-1 antitrypsin therapy developed for patients with alpha-1 antitrypsin deficiency-associated lung disease.