Inhibrx Biosciences (NASDAQ:INBX) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Inhibrx Biosciences (NASDAQ:INBX) from a hold rating to a sell rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also issued reports on INBX. Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a research note on Friday, April 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Zacks Research raised Inhibrx Biosciences to a “hold” rating in a report on Thursday, April 9th. Finally, Stifel Nicolaus initiated coverage on Inhibrx Biosciences in a research report on Wednesday, April 8th. They issued a “buy” rating and a $150.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $150.00.

Inhibrx Biosciences Stock Up 0.8%

Shares of NASDAQ INBX opened at $82.72 on Friday. Inhibrx Biosciences has a 12-month low of $20.55 and a 12-month high of $155.29. The company has a market capitalization of $1.21 billion, a PE ratio of -9.86 and a beta of 3.51. The company has a debt-to-equity ratio of 12.58, a current ratio of 6.46 and a quick ratio of 6.46. The firm’s 50-day moving average is $92.33 and its two-hundred day moving average is $87.57.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings results on Thursday, May 14th. The company reported ($2.15) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.47). Equities analysts anticipate that Inhibrx Biosciences will post -10.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Inhibrx Biosciences

Hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Inhibrx Biosciences by 26.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company’s stock worth $56,000 after buying an additional 147 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of Inhibrx Biosciences by 1.3% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 22,883 shares of the company’s stock worth $1,808,000 after buying an additional 299 shares during the period. Persistent Asset Partners Ltd acquired a new position in Inhibrx Biosciences in the fourth quarter valued at $27,000. BNP Paribas Financial Markets boosted its holdings in Inhibrx Biosciences by 71.9% in the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock valued at $64,000 after acquiring an additional 789 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in Inhibrx Biosciences during the fourth quarter valued at about $66,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

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.