UBS Group AG Has $5.82 Million Stock Holdings in Inhibrx Biosciences, Inc. $INBX

UBS Group AG increased its holdings in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) by 681.9% in the 4th quarter, HoldingsChannel reports. The firm owned 73,699 shares of the company’s stock after acquiring an additional 64,273 shares during the period. UBS Group AG’s holdings in Inhibrx Biosciences were worth $5,822,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in INBX. Caligan Partners LP acquired a new stake in shares of Inhibrx Biosciences during the 3rd quarter worth approximately $7,961,000. Readystate Asset Management LP lifted its position in shares of Inhibrx Biosciences by 534.1% during the 3rd quarter. Readystate Asset Management LP now owns 170,158 shares of the company’s stock valued at $5,731,000 after acquiring an additional 143,324 shares during the period. Citadel Advisors LLC bought a new position in Inhibrx Biosciences during the third quarter worth $1,926,000. SummitTX Capital L.P. bought a new position in Inhibrx Biosciences during the third quarter worth $1,824,000. Finally, Boothbay Fund Management LLC grew its holdings in Inhibrx Biosciences by 179.2% in the third quarter. Boothbay Fund Management LLC now owns 78,812 shares of the company’s stock worth $2,654,000 after purchasing an additional 50,582 shares during the period. 82.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INBX has been the subject of several research analyst reports. Wall Street Zen raised shares of Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Stifel Nicolaus assumed 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 on the stock. Lifesci Capital upgraded Inhibrx Biosciences to a “strong-buy” rating in a research note on Friday, April 24th. Zacks Research raised Inhibrx Biosciences to a “hold” rating in a research note on Thursday, April 9th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Inhibrx Biosciences in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $150.00.

Inhibrx Biosciences Stock Up 0.5%

INBX opened at $110.01 on Thursday. The company’s 50-day moving average is $89.92 and its 200 day moving average is $82.95. The company has a debt-to-equity ratio of 12.58, a current ratio of 6.46 and a quick ratio of 6.46. Inhibrx Biosciences, Inc. has a fifty-two week low of $12.24 and a fifty-two week high of $155.29. The firm has a market capitalization of $1.61 billion, a P/E ratio of -13.11 and a beta of 3.88.

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