Inhibrx Biosciences, Inc. (INBX) – What Are Analysts Saying About This Stock?

Shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) have received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $197.50.

A number of brokerages have recently commented on INBX. HC Wainwright began coverage on shares of Inhibrx Biosciences in a research report on Monday, August 24th. They set a “buy” rating and a $245.00 price objective for the company. Wall Street Zen cut shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Citigroup reissued a “market perform” rating on shares of Inhibrx Biosciences in a research report on Friday, September 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Friday, September 11th.

Inhibrx Biosciences Price Performance

Shares of Inhibrx Biosciences stock opened at $95.66 on Wednesday. Inhibrx Biosciences has a fifty-two week low of $57.30 and a fifty-two week high of $155.29. The firm has a fifty day moving average price of $103.87 and a two-hundred day moving average price of $91.63.

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

Insider Transactions at Inhibrx Biosciences

In other news, Director Jon Kayyem acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were bought at an average price of $113.52 per share, with a total value of $567,600.00. Following the acquisition, the director owned 424,360 shares of the company’s stock, valued at $48,173,347.20. This trade represents a 1.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Douglas Forsyth acquired 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were purchased at an average cost of $114.65 per share, for a total transaction of $286,625.00. Following the acquisition, the director directly owned 227,064 shares in the company, valued at $26,032,887.60. This represents a 1.11% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders bought 62,540 shares of company stock worth $6,347,507 and sold 1,500 shares worth $168,590. Corporate insiders own 18.26% of the company’s stock.

Institutional Trading of Inhibrx Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC raised its stake in shares of Inhibrx Biosciences by 380.3% in the third quarter. Sterling Capital Management LLC now owns 293 shares of the company’s stock valued at $29,000 after purchasing an additional 232 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Inhibrx Biosciences by 10,888.2% in the third 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 during the period. Opaleye Management Inc. acquired a new stake in Inhibrx Biosciences during the second quarter worth $1,923,000. Tidal Investments LLC acquired a new stake in Inhibrx Biosciences during the second quarter worth $964,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Inhibrx Biosciences during the second quarter worth $31,000. 82.46% of the stock is currently owned by institutional investors.

Inhibrx Biosciences Company Profile

Inhibrx Biosciences, Inc is a biotechnology company focused on developing biologic medicines for serious and rare diseases. The company uses its proprietary protein-engineering and antibody-development platforms to create therapies designed to address conditions with limited treatment options.

Its lead investigational program was INBRX-101, an engineered recombinant protein developed for alpha-1 antitrypsin deficiency-associated lung disease. The company also advanced other potential treatments, including INBRX-109, an investigational therapy studied in certain solid tumors, and additional biologic candidates targeting oncology and other serious diseases.