Inhibrx, Inc. (NASDAQ:INBX) Short Interest Down 19.7% in March

Inhibrx, Inc. (NASDAQ:INBX) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 955,400 shares, a decrease of 19.7% from the February 28th total of 1,190,000 shares. Based on an average daily trading volume, of 91,300 shares, the days-to-cover ratio is currently 10.5 days. Approximately 9.6% of the shares of the stock are short sold.

Institutional Trading of Inhibrx

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new stake in Inhibrx during the 4th quarter worth approximately $28,000. Natixis acquired a new position in shares of Inhibrx during the fourth quarter worth $31,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Inhibrx during the fourth quarter worth $47,000. New York State Common Retirement Fund bought a new stake in shares of Inhibrx in the fourth quarter worth $53,000. Finally, State of Wyoming acquired a new stake in Inhibrx in the fourth quarter valued at $83,000. 82.46% of the stock is currently owned by institutional investors.

Inhibrx Price Performance

Shares of NASDAQ:INBX opened at $14.12 on Monday. Inhibrx has a one year low of $10.80 and a one year high of $35.42. The firm has a 50 day simple moving average of $13.36 and a 200 day simple moving average of $14.60.

Inhibrx (NASDAQ:INBX) last released its quarterly earnings data on Monday, March 17th. The company reported ($3.09) earnings per share for the quarter, missing the consensus estimate of ($2.88) by ($0.21). The company had revenue of $0.10 million during the quarter. Sell-side analysts forecast that Inhibrx will post 104.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JMP Securities reiterated a “market perform” rating on shares of Inhibrx in a research report on Wednesday, January 22nd.

Inhibrx Company Profile

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.