Inhibrx Biosciences (NASDAQ:INBX) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Inhibrx Biosciences (NASDAQ:INBX) from a hold rating to a strong sell rating in a research report released on Monday.

A number of other research analysts also recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. Lifesci Capital upgraded Inhibrx Biosciences to a “strong-buy” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Inhibrx Biosciences has a consensus rating of “Hold” and a consensus target price of $150.00.

Inhibrx Biosciences Trading Up 7.3%

NASDAQ:INBX opened at $101.48 on Monday. The company has a market cap of $1.49 billion, a PE ratio of -11.43 and a beta of 3.51. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 12.58. The company has a 50 day simple moving average of $91.28 and a two-hundred day simple moving average of $89.07. Inhibrx Biosciences has a 12 month low of $22.64 and a 12 month high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06). Research analysts forecast that Inhibrx Biosciences will post -10.88 earnings per share for the current year.

Institutional Investors Weigh In On Inhibrx Biosciences

A number of hedge funds have recently modified their holdings of INBX. Persistent Asset Partners Ltd purchased a new stake in shares of Inhibrx Biosciences in the 4th quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. lifted its position 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 valued at $56,000 after purchasing an additional 147 shares in the last quarter. Quantbot Technologies LP purchased a new position in Inhibrx Biosciences during the second quarter valued at $68,000. Daiwa Securities Group Inc. bought a new stake in Inhibrx Biosciences during the fourth quarter valued at about $66,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Inhibrx Biosciences during the third quarter valued at about $40,000. 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.