Inhibrx Biosciences, Inc. $INBX Shares Sold by Perceptive Advisors LLC

Perceptive Advisors LLC trimmed its stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX) by 0.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,442,707 shares of the company’s stock after selling 10,000 shares during the period. Inhibrx Biosciences comprises 1.9% of Perceptive Advisors LLC’s investment portfolio, making the stock its 16th biggest holding. Perceptive Advisors LLC owned approximately 9.83% of Inhibrx Biosciences worth $96,993,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Morgan Stanley boosted its position in shares of Inhibrx Biosciences by 163.7% during the 4th quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock worth $92,251,000 after purchasing an additional 724,872 shares during the period. Capital Research Global Investors purchased a new stake in Inhibrx Biosciences in the fourth quarter valued at approximately $33,304,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Inhibrx Biosciences in the fourth quarter valued at approximately $20,856,000. Caligan Partners LP acquired a new position in Inhibrx Biosciences during the third quarter worth $7,961,000. Finally, State Street Corp lifted its stake in Inhibrx Biosciences by 83.9% during the fourth quarter. State Street Corp now owns 374,961 shares of the company’s stock worth $29,622,000 after purchasing an additional 171,038 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INBX has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Zacks Research upgraded Inhibrx Biosciences to a “hold” rating in a report on Thursday, April 9th. Wall Street Zen lowered Inhibrx Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday. Stifel Nicolaus assumed coverage on Inhibrx Biosciences in a report on Wednesday, April 8th. They set a “buy” rating and a $150.00 target price for the company. Finally, Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $150.00.

Inhibrx Biosciences Price Performance

Inhibrx Biosciences stock opened at $82.05 on Friday. The firm has a market cap of $1.20 billion, a PE ratio of -9.78 and a beta of 3.41. Inhibrx Biosciences, Inc. has a 52-week low of $20.55 and a 52-week high of $155.29. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 12.58. The company’s 50 day moving average is $92.70 and its two-hundred day moving average is $87.42.

Inhibrx Biosciences (NASDAQ:INBX) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($2.15) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.47). On average, research analysts expect that Inhibrx Biosciences, Inc. will post -10.15 EPS for the current fiscal year.

Inhibrx Biosciences Profile

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.