Inhibrx Biosciences (NASDAQ:INBX) CEO Acquires $545,380.00 in Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) CEO Mark Lappe bought 5,500 shares of the business’s stock in a transaction on Friday, September 25th. The shares were acquired at an average price of $99.16 per share, for a total transaction of $545,380.00. Following the completion of the purchase, the chief executive officer owned 736,048 shares in the company, valued at approximately $72,986,519.68. The trade was a 0.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Mark Lappe also recently made the following trade(s):

• On Monday, September 28th, Mark Lappe purchased 4,500 shares of Inhibrx Biosciences stock. The stock was acquired at an average price of $100.76 per share, with a total value of $453,420.00.
• On Tuesday, September 8th, Mark Lappe purchased 25,000 shares of Inhibrx Biosciences stock. The shares were acquired at an average cost of $105.82 per share, for a total transaction of $2,645,500.00.

Inhibrx Biosciences Trading Down 4.5%

Inhibrx Biosciences stock opened at $100.08 on Thursday. Inhibrx Biosciences, Inc. has a one year low of $28.16 and a one year high of $155.29. The business’s fifty day moving average is $102.22 and its 200 day moving average is $96.23. The stock has a market capitalization of $1.47 billion, a PE ratio of -11.27 and a beta of 3.66. 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 issued its earnings results 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). On average, sell-side analysts predict that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current year.

Hedge Funds Weigh In On Inhibrx Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Perceptive Advisors LLC increased its position in Inhibrx Biosciences by 9.4% in the fourth quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company’s stock worth $114,764,000 after buying an additional 125,000 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Inhibrx Biosciences during the 2nd quarter valued at about $79,698,000. BlackRock Inc. bought a new position in shares of Inhibrx Biosciences during the 2nd quarter valued at approximately $78,261,000. Sofinnova Investments Inc. increased its holdings in Inhibrx Biosciences by 3.3% in the 4th quarter. Sofinnova Investments Inc. now owns 454,657 shares of the company’s stock worth $35,918,000 after acquiring an additional 14,565 shares in the last quarter. Finally, Capital Research Global Investors purchased a new stake in Inhibrx Biosciences in the 4th quarter worth approximately $33,304,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INBX has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Citigroup restated a “market perform” rating on shares of Inhibrx Biosciences in a research note on Friday, September 18th. HC Wainwright began coverage on Inhibrx Biosciences in a report on Monday, August 24th. They issued a “buy” rating and a $245.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Inhibrx Biosciences has a consensus rating of “Moderate Buy” and a consensus price target of $197.50.

Inhibrx Biosciences Company Profile

Inhibrx Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing biologic medicines for serious diseases with limited treatment options. The company uses a proprietary protein-engineering platform to design novel therapeutic proteins, including multivalent and long-acting biologics intended to selectively affect disease-related biological pathways.

Inhibrx’s development programs have included INBRX-101, also known as efzofitimod, an engineered fibroblast growth factor 1 intended for the treatment of alpha-1 antitrypsin deficiency-associated emphysema and other inflammatory lung conditions.