Insider Selling: Inhibrx Biosciences (NASDAQ:INBX) Director Sells $55,130.00 in Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Kimberly Manhard sold 500 shares of the company’s stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $110.26, for a total transaction of $55,130.00. Following the completion of the sale, the director directly owned 8,000 shares of the company’s stock, valued at approximately $882,080. This trade represents a 5.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, September 11th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The shares were sold at an average price of $111.78, for a total transaction of $55,890.00.
• 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 transaction of $57,570.00.

Inhibrx Biosciences Price Performance

Shares of INBX opened at $104.73 on Friday. The company has a 50 day moving average price of $99.51 and a 200-day moving average price of $94.21. The company has a debt-to-equity ratio of 12.58, a quick ratio of 5.07 and a current ratio of 5.07. The stock has a market capitalization of $1.54 billion, a PE ratio of -11.79 and a beta of 3.66. Inhibrx Biosciences, Inc. has a fifty-two week low of $26.20 and a fifty-two week high of $155.29.

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

Wall Street Analyst Weigh In

INBX has been the topic of several analyst reports. HC Wainwright began coverage on shares of Inhibrx Biosciences in a report on Monday, August 24th. They issued a “buy” rating and a $245.00 price target on the stock. Wall Street Zen lowered Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Citigroup reissued a “market perform” rating on shares of Inhibrx Biosciences in a research report on Thursday, August 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $197.50.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE purchased a new position in shares of Inhibrx Biosciences during the second quarter worth $79,698,000. BlackRock Inc. acquired a new stake in Inhibrx Biosciences during the 2nd quarter worth about $78,261,000. Capital Research Global Investors acquired a new stake in Inhibrx Biosciences during the 4th quarter worth about $33,304,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Inhibrx Biosciences during the 4th quarter valued at about $20,856,000. Finally, Parkman Healthcare Partners LLC purchased a new position in shares of Inhibrx Biosciences during the 2nd quarter valued at about $24,346,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Inhibrx Biosciences Company Profile

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.