Inhibrx Biosciences (NASDAQ:INBX) CEO Mark Lappe Buys 4,500 Shares of Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) CEO Mark Lappe acquired 4,500 shares of the company’s stock in a transaction dated Monday, September 28th. The shares were purchased at an average price of $100.76 per share, with a total value of $453,420.00. Following the completion of the acquisition, the chief executive officer owned 740,548 shares in the company, valued at approximately $74,617,616.48. The trade was a 0.61% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, September 25th, Mark Lappe bought 5,500 shares of Inhibrx Biosciences stock. The stock was purchased at an average price of $99.16 per share, for a total transaction of $545,380.00.
• On Tuesday, September 8th, Mark Lappe bought 25,000 shares of Inhibrx Biosciences stock. The stock was purchased at an average price of $105.82 per share, for a total transaction of $2,645,500.00.

Inhibrx Biosciences Trading Up 2.1%

INBX stock traded up $2.10 during trading on Monday, reaching $101.71. 187,060 shares of the stock traded hands, compared to its average volume of 319,038. The firm has a market capitalization of $1.50 billion, a PE ratio of -11.45 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. The business’s 50 day moving average price is $101.24 and its 200-day moving average price is $95.58. Inhibrx Biosciences, Inc. has a 52-week low of $28.16 and a 52-week high of $155.29.

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

Institutional Trading of Inhibrx Biosciences

Several large investors have recently bought and sold shares of the company. Opaleye Management Inc. purchased a new stake in shares of Inhibrx Biosciences during the second quarter valued at approximately $1,923,000. Tidal Investments LLC acquired a new stake in Inhibrx Biosciences during the 2nd quarter valued at $964,000. Integrated Wealth Concepts LLC acquired a new stake in Inhibrx Biosciences during the 2nd quarter valued at $31,000. NINE MASTS CAPITAL Ltd acquired a new stake in Inhibrx Biosciences during the 2nd quarter valued at $284,000. Finally, Harvest Management LLC purchased a new stake in Inhibrx Biosciences during the 2nd quarter worth $246,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Analysts Set New Price Targets

INBX has been the topic of a number of recent research reports. Weiss Ratings reaffirmed 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 report on Monday, August 17th. HC Wainwright started coverage on shares of Inhibrx Biosciences in a research note on Monday, August 24th. They issued a “buy” rating and a $245.00 target price on the stock. Finally, Citigroup restated a “market perform” rating on shares of Inhibrx Biosciences in a report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $197.50.

About Inhibrx Biosciences

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.