Inhibrx Biosciences (NASDAQ:INBX) Rating Increased to Hold at Wall Street Zen

Inhibrx Biosciences (NASDAQ:INBX) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Sunday.

Other equities analysts have also issued reports about the company. Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Stifel Nicolaus initiated coverage on shares of Inhibrx Biosciences in a research note on Wednesday, April 8th. They issued a “buy” rating and a $150.00 price objective for the company. Finally, Zacks Research upgraded shares of Inhibrx Biosciences to a “hold” rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $150.00.

Inhibrx Biosciences Trading Down 10.4%

Inhibrx Biosciences stock traded down $10.84 during trading hours on Friday, reaching $93.01. 369,246 shares of the company’s stock were exchanged, compared to its average volume of 341,554. The firm’s 50 day simple moving average is $102.47 and its 200 day simple moving average is $86.62. Inhibrx Biosciences has a twelve month low of $20.48 and a twelve month 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 firm has a market capitalization of $1.36 billion, a PE ratio of -11.09 and a beta of 3.41.

Inhibrx Biosciences (NASDAQ:INBX) last announced 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 predict that Inhibrx Biosciences will post -10.15 earnings per share for the current year.

Institutional Investors Weigh In On Inhibrx Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the company. Persistent Asset Partners Ltd bought a new position in shares of Inhibrx Biosciences in the 4th quarter worth $27,000. Strs Ohio bought a new stake in Inhibrx Biosciences during the 1st quarter valued at $27,000. Public Employees Retirement System of Ohio bought a new stake in Inhibrx Biosciences during the 3rd quarter valued at $40,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Inhibrx Biosciences by 26.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company’s stock worth $56,000 after buying an additional 147 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Inhibrx Biosciences by 71.9% during the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock worth $64,000 after buying an additional 789 shares during the last quarter. Institutional investors own 82.46% of the company’s stock.

About Inhibrx Biosciences

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.