Inhibrx Biosciences Target of Unusually Large Options Trading (NASDAQ:INBX)

Inhibrx Biosciences, Inc. (NASDAQ:INBX) was the recipient of unusually large options trading on Friday. Investors acquired 1,788 call options on the company. This represents an increase of approximately 103% compared to the average volume of 880 call options.

Analysts Set New Price Targets

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

Inhibrx Biosciences Stock Performance

Shares of NASDAQ INBX traded up $8.16 during trading on Friday, reaching $82.78. 217,258 shares of the stock traded hands, compared to its average volume of 171,689. The company has a debt-to-equity ratio of 1.45, a current ratio of 4.98 and a quick ratio of 4.98. The stock has a market capitalization of $1.20 billion, a P/E ratio of -7.71 and a beta of 1.09. Inhibrx Biosciences has a 52-week low of $10.81 and a 52-week high of $86.64. The company has a 50-day moving average of $44.88 and a 200-day moving average of $27.45.

Inhibrx Biosciences (NASDAQ:INBX) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($2.28) earnings per share for the quarter, topping the consensus estimate of ($2.94) by $0.66. Analysts forecast that Inhibrx Biosciences will post 104.88 EPS for the current fiscal year.

Insider Buying and Selling at Inhibrx Biosciences

In other news, major shareholder Global Investors Lp Viking sold 350,000 shares of the company’s 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 17.09% of the stock is owned by insiders.

Hedge Funds Weigh In On Inhibrx Biosciences

Several large investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its stake in shares of Inhibrx Biosciences by 71.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock valued at $64,000 after buying an additional 789 shares in the last quarter. Strs Ohio purchased a new position in Inhibrx Biosciences in the 1st quarter valued at approximately $27,000. Arrowstreet Capital Limited Partnership bought a new stake in Inhibrx Biosciences during the 3rd quarter valued at $202,000. Dynamic Technology Lab Private Ltd bought a new stake in Inhibrx Biosciences during the 3rd quarter valued at $249,000. Finally, Bank of America Corp DE lifted its position in shares of Inhibrx Biosciences by 19.2% during the second quarter. Bank of America Corp DE now owns 9,130 shares of the company’s stock worth $130,000 after acquiring an additional 1,469 shares in the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Inhibrx Biosciences 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.