Inhibrx Biosciences (NASDAQ:INBX) Director Sells $55,890.00 in Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Kimberly Manhard sold 500 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $111.78, for a total value of $55,890.00. Following the completion of the transaction, the director owned 8,500 shares in the company, valued at approximately $950,130. This trade represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Kimberly Manhard also recently made the following trade(s):

• On Monday, September 14th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The shares were sold at an average price of $110.26, for a total value of $55,130.00.
• On Tuesday, September 8th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The shares were sold at an average price of $115.14, for a total value of $57,570.00.

Inhibrx Biosciences Stock Performance

INBX stock traded down $4.86 during trading on Tuesday, reaching $105.61. The stock had a trading volume of 251,601 shares, compared to its average volume of 320,513. The firm has a market cap of $1.55 billion, a PE ratio of -11.89 and a beta of 3.66. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 12.58. The stock’s 50 day moving average is $99.30 and its two-hundred day moving average is $93.64. Inhibrx Biosciences, Inc. has a 52 week low of $26.19 and a 52 week high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06). As a group, equities analysts anticipate that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Opaleye Management Inc. purchased a new position in shares of Inhibrx Biosciences during the 2nd quarter valued at about $1,923,000. Tidal Investments LLC purchased a new stake in Inhibrx Biosciences in the 2nd quarter worth approximately $964,000. Integrated Wealth Concepts LLC purchased a new stake in Inhibrx Biosciences in the 2nd quarter worth approximately $31,000. NINE MASTS CAPITAL Ltd bought a new stake in Inhibrx Biosciences during the 2nd quarter worth approximately $284,000. Finally, Harvest Management LLC bought a new stake in Inhibrx Biosciences during the 2nd quarter worth approximately $246,000. Institutional investors own 82.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Citigroup reiterated a “market perform” rating on shares of Inhibrx Biosciences in a research report on Thursday, August 27th. HC Wainwright started coverage on shares of Inhibrx Biosciences in a research note on Monday, August 24th. They set a “buy” rating and a $245.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Inhibrx Biosciences currently has an average rating of “Moderate Buy” and an average target price of $197.50.

About Inhibrx Biosciences

Inhibrx Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing biologic medicines for serious diseases with limited treatment options. The company uses a proprietary protein-engineering platform to design novel therapeutic proteins, including multivalent and long-acting biologics intended to selectively affect disease-related biological pathways.

Inhibrx’s development programs have included INBRX-101, also known as efzofitimod, an engineered fibroblast growth factor 1 intended for the treatment of alpha-1 antitrypsin deficiency-associated emphysema and other inflammatory lung conditions.