Inhibrx Biosciences, Inc. (NASDAQ:INBX) Receives Consensus Rating of “Hold” from Brokerages

Shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) have earned an average recommendation of “Hold” from the six research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $150.00.

INBX has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, July 12th. Stifel Nicolaus initiated coverage on shares of Inhibrx Biosciences in a research report on Wednesday, April 8th. They set a “buy” rating and a $150.00 price objective for the company. Zacks Research raised shares of Inhibrx Biosciences to a “hold” rating in a report on Thursday, April 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Finally, Lifesci Capital raised shares of Inhibrx Biosciences to a “strong-buy” rating in a research note on Friday, April 24th.

Inhibrx Biosciences Stock Performance

Shares of INBX stock opened at $87.39 on Monday. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 12.58. Inhibrx Biosciences has a 12-month low of $20.55 and a 12-month high of $155.29. The business’s 50 day moving average is $98.37 and its two-hundred day moving average is $87.02. The company has a market capitalization of $1.28 billion, a P/E ratio of -10.42 and a beta of 3.41.

Inhibrx Biosciences (NASDAQ:INBX) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($2.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47). Analysts expect that Inhibrx Biosciences will post -10.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Inhibrx Biosciences

Institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Inhibrx Biosciences by 26.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company’s stock worth $56,000 after purchasing an additional 147 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in 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 valued at $1,808,000 after purchasing an additional 299 shares during the last quarter. Persistent Asset Partners Ltd acquired a new position in Inhibrx Biosciences in the 4th quarter valued at about $27,000. BNP Paribas Financial Markets grew its stake in shares of Inhibrx Biosciences by 71.9% in 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 during the period. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Inhibrx Biosciences in the 4th quarter valued at approximately $66,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

About Inhibrx Biosciences

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.