Inhibrx Biosciences, Inc. (NASDAQ:INBX) Given Consensus Recommendation of “Hold” by Analysts

Inhibrx Biosciences, Inc. (NASDAQ:INBX) has been assigned an average recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $150.00.

Several research firms recently weighed in on INBX. Lifesci Capital upgraded shares of Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Wall Street Zen upgraded Inhibrx Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th.

Inhibrx Biosciences Trading Down 1.4%

Shares of INBX stock opened at $97.01 on Friday. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 12.58. Inhibrx Biosciences has a fifty-two week low of $22.40 and a fifty-two week high of $155.29. The firm’s 50 day moving average price is $90.85 and its two-hundred day moving average price is $88.48. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of -11.56 and a beta of 3.51.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings data on Thursday, August 13th. The company reported ($2.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.28) by ($0.06). On average, analysts anticipate that Inhibrx Biosciences will post -10.15 EPS for the current year.

Institutional Investors Weigh In On Inhibrx Biosciences

A number of large investors have recently modified their holdings of INBX. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Inhibrx Biosciences by 26.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company’s stock valued at $56,000 after buying an additional 147 shares during the period. Persistent Asset Partners Ltd purchased a new position in Inhibrx Biosciences in the 4th quarter worth approximately $27,000. Quantbot Technologies LP purchased a new position in Inhibrx Biosciences in the 2nd quarter worth approximately $68,000. BNP Paribas Financial Markets grew its position in Inhibrx Biosciences by 71.9% in the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock valued at $64,000 after acquiring an additional 789 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in Inhibrx Biosciences in the fourth quarter valued at approximately $66,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Inhibrx Biosciences Company 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.