Inhibrx Biosciences (NASDAQ:INBX) Stock: Insider Mark Lappe Purchases 10,040 Shares

Inhibrx Biosciences, Inc. (NASDAQ:INBX) CEO Mark Lappe acquired 10,040 shares of Inhibrx Biosciences stock in a transaction that occurred on Wednesday, October 14th. The shares were bought at an average cost of $84.56 per share, with a total value of $848,982.40. Following the transaction, the chief executive officer owned 745,588 shares in the company, valued at $63,046,921.28. This represents a 1.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Mark Lappe also recently made the following trade(s):

• On Monday, September 28th, Mark Lappe acquired 4,500 shares of Inhibrx Biosciences stock. The shares were bought at an average price of $100.76 per share, with a total value of $453,420.00.
• On Friday, September 25th, Mark Lappe bought 5,500 shares of Inhibrx Biosciences stock. The stock was bought at an average cost of $99.16 per share, for a total transaction of $545,380.00.
• On Tuesday, September 8th, Mark Lappe bought 25,000 shares of Inhibrx Biosciences stock. The stock was bought at an average cost of $105.82 per share, for a total transaction of $2,645,500.00.

Inhibrx Biosciences Price Performance

NASDAQ INBX opened at $90.50 on Friday. Inhibrx Biosciences, Inc. has a 12 month low of $28.16 and a 12 month high of $155.29. The stock’s fifty day moving average price is $104.34 and its 200-day moving average price is $98.32.

Inhibrx Biosciences (NASDAQ:INBX) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share for the quarter, missing the consensus estimate of ($2.28) by ($0.06). On average, equities research analysts forecast that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INBX has been the topic of several recent analyst reports. Citigroup reissued a “market perform” rating on shares of Inhibrx Biosciences in a research report on Friday, September 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Friday, September 11th. Wall Street Zen downgraded shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Finally, HC Wainwright assumed coverage on shares of Inhibrx Biosciences in a research note on Monday, August 24th. They issued a “buy” rating and a $245.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $197.50.

Institutional Trading of Inhibrx Biosciences

Several institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in shares of Inhibrx Biosciences by 10,888.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,868 shares of the company’s stock worth $187,000 after purchasing an additional 1,851 shares in the last quarter. Opaleye Management Inc. purchased a new position in shares of Inhibrx Biosciences in the second quarter worth $1,923,000. Tidal Investments LLC purchased a new position in shares of Inhibrx Biosciences in the second quarter worth $964,000. Integrated Wealth Concepts LLC bought a new position in shares of Inhibrx Biosciences during the second quarter valued at $31,000. Finally, NINE MASTS CAPITAL Ltd bought a new position in shares of Inhibrx Biosciences during the second quarter valued at $284,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

About Inhibrx Biosciences

Inhibrx Biosciences, Inc is a biotechnology company focused on discovering and developing engineered biologic medicines for serious diseases with limited treatment options. The company’s platform has been used to create multifunctional proteins and antibody-based therapies designed to address targets that may be difficult to treat with conventional drugs.

Its leading program was INBRX-101, an engineered recombinant human alpha-1 antitrypsin therapy developed for patients with alpha-1 antitrypsin deficiency-associated lung disease.