HighVista Strategies LLC Takes $257,000 Position in Inhibrx Biosciences, Inc. $INBX

HighVista Strategies LLC bought a new position in Inhibrx Biosciences, Inc. (NASDAQ:INBX) in the third quarter, HoldingsChannel.com reports. The fund bought 7,626 shares of the company’s stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors have also modified their holdings of INBX. BNP Paribas Financial Markets boosted its stake in Inhibrx Biosciences by 71.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock valued at $64,000 after buying an additional 789 shares in the last quarter. Bank of America Corp DE grew its position in Inhibrx Biosciences by 19.2% in the second quarter. Bank of America Corp DE now owns 9,130 shares of the company’s stock valued at $130,000 after acquiring an additional 1,469 shares during the period. Strs Ohio acquired a new position in Inhibrx Biosciences during the first quarter worth $27,000. Russell Investments Group Ltd. raised its stake in Inhibrx Biosciences by 11.0% during the second quarter. Russell Investments Group Ltd. now owns 29,993 shares of the company’s stock worth $428,000 after acquiring an additional 2,963 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Inhibrx Biosciences during the third quarter valued at $202,000. Institutional investors own 82.46% of the company’s stock.

Inhibrx Biosciences Price Performance

Shares of INBX stock opened at $69.26 on Tuesday. Inhibrx Biosciences, Inc. has a 52 week low of $10.81 and a 52 week high of $94.57. The stock has a market capitalization of $1.01 billion, a PE ratio of -6.91 and a beta of 1.50. The company has a debt-to-equity ratio of 2.71, a quick ratio of 4.49 and a current ratio of 4.49. The stock’s fifty day moving average is $76.22 and its 200-day moving average is $64.97.

Analysts Set New Price Targets

INBX has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Inhibrx Biosciences in a research note on Thursday, January 22nd. Citigroup reiterated a “market perform” rating on shares of Inhibrx Biosciences in a research report on Wednesday, November 19th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Inhibrx Biosciences currently has a consensus rating of “Reduce”.

Inhibrx Biosciences Company 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.