Inhibrx Biosciences (NASDAQ:INBX) Reaches New 1-Year High – What’s Next?

Inhibrx Biosciences, Inc. (NASDAQ:INBX)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $84.19 and last traded at $83.18, with a volume of 51718 shares trading hands. The stock had previously closed at $81.99.

Analyst Ratings Changes

INBX has been the topic of a number of research reports. Wall Street Zen upgraded shares of Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, August 17th. JMP Securities reiterated a “market perform” rating on shares of Inhibrx Biosciences in a report on Friday, August 22nd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Inhibrx Biosciences in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Inhibrx Biosciences Stock Down 0.4%

The firm has a market cap of $1.17 billion, a P/E ratio of -7.63 and a beta of 1.09. The stock’s 50 day simple moving average is $41.01 and its 200 day simple moving average is $25.67. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.98 and a current ratio of 4.98.

Inhibrx Biosciences (NASDAQ:INBX) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($1.85) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.92) by $1.07. The business had revenue of $1.30 million for the quarter. Research analysts anticipate that Inhibrx Biosciences, Inc. will post 104.88 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Global Investors Lp Viking sold 350,000 shares of the stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $32.25, for a total value of $11,287,500.00. Following the completion of the sale, the insider directly owned 67,018 shares of the company’s stock, valued at $2,161,330.50. This represents a 83.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 17.09% of the company’s stock.

Institutional Investors Weigh In On Inhibrx Biosciences

Several institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new position in Inhibrx Biosciences during the 1st quarter valued at $27,000. Bank of America Corp DE raised its holdings in shares of Inhibrx Biosciences by 19.2% in the second quarter. Bank of America Corp DE now owns 9,130 shares of the company’s stock valued at $130,000 after purchasing an additional 1,469 shares during the last quarter. Bluefin Capital Management LLC purchased a new stake in shares of Inhibrx Biosciences in the first quarter valued at about $160,000. Invesco Ltd. bought a new position in shares of Inhibrx Biosciences during the second quarter valued at about $193,000. Finally, Ethic Inc. purchased a new position in Inhibrx Biosciences during the second quarter worth about $227,000. Institutional investors own 82.46% of the company’s stock.

About Inhibrx Biosciences

Inhibrx, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidate includes INBRX-101, an alpha-1 antitrypsin (AAT)-Fc fusion protein therapeutic candidate, which is in Phase 1 clinical trials for use in the treatment of patients with AAT deficiency.