Inhibrx (NASDAQ:INBX) Shares Gap Up on Better-Than-Expected Earnings

Inhibrx, Inc. (NASDAQ:INBX) shares gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $16.11, but opened at $16.74. Inhibrx shares last traded at $16.74, with a volume of 4 shares trading hands.

The company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.10.

A number of equities analysts have weighed in on INBX shares. Zacks Investment Research upgraded shares of Inhibrx from a “sell” rating to a “hold” rating in a research report on Wednesday. Credit Suisse Group started coverage on shares of Inhibrx in a research report on Monday, April 26th. They issued an “outperform” rating and a $44.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $34.67.

In other news, insider Brendan P. Eckelman sold 17,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 24th. The shares were sold at an average price of $19.02, for a total value of $323,340.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional investors have recently made changes to their positions in the business. Virtus ETF Advisers LLC bought a new stake in Inhibrx during the fourth quarter valued at approximately $235,000. Janus Henderson Group PLC bought a new stake in Inhibrx during the fourth quarter valued at approximately $1,754,000. JPMorgan Chase & Co. bought a new stake in Inhibrx during the fourth quarter valued at approximately $742,000. Alaethes Wealth LLC bought a new stake in Inhibrx during the first quarter valued at approximately $589,000. Finally, Ikarian Capital LLC bought a new stake in Inhibrx during the fourth quarter valued at approximately $266,000. Institutional investors and hedge funds own 36.63% of the company’s stock.

The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.80 and a current ratio of 3.80. The firm’s 50-day simple moving average is $18.87 and its 200-day simple moving average is $27.49.

About Inhibrx (NASDAQ:INBX)

Inhibrx, Inc, a clinical-stage biotechnology company, focuses on developing a pipeline of novel biologic therapeutic candidates. Its therapeutic candidates include INBRX-109, a tetravalent agonist of death receptor 5, which is in Phase 1 clinical trials in patients with solid tumors, including sarcoma; and INBRX-105, an tetravalent conditional agonist of programmed death ligand 1 (PD-L1) and a conditional agonist of 4-1BB that is in Phase 1 clinical trials to treat patients with PD-L1 expressing tumors.

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