Kimberly Manhard Sells 500 Shares of Inhibrx Biosciences (NASDAQ:INBX) Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Kimberly Manhard sold 500 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $110.26, for a total transaction of $55,130.00. Following the completion of the sale, the director owned 8,000 shares of the company’s stock, valued at $882,080. This trade represents a 5.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Kimberly Manhard also recently made the following trade(s):

• On Friday, September 11th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The stock was sold at an average price of $111.78, for a total transaction of $55,890.00.
• On Tuesday, September 8th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The shares were sold at an average price of $115.14, for a total transaction of $57,570.00.

Inhibrx Biosciences Stock Performance

NASDAQ INBX opened at $101.77 on Thursday. The company has a debt-to-equity ratio of 12.58, a quick ratio of 5.07 and a current ratio of 5.07. The stock’s fifty day moving average is $99.49 and its two-hundred day moving average is $93.99. The firm has a market capitalization of $1.50 billion, a P/E ratio of -11.46 and a beta of 3.66. Inhibrx Biosciences, Inc. has a fifty-two week low of $26.19 and a fifty-two week high of $155.29.

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

Analyst Ratings Changes

Several brokerages have recently commented on INBX. Wall Street Zen lowered Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. HC Wainwright assumed coverage on shares of Inhibrx Biosciences in a report on Monday, August 24th. They issued a “buy” rating and a $245.00 price objective on the stock. Citigroup reaffirmed a “market perform” rating on shares of Inhibrx Biosciences in a research note on Thursday, August 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday, September 11th. One investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $197.50.

Institutional Investors Weigh In On Inhibrx Biosciences

Institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Inhibrx Biosciences in the 2nd quarter valued at $31,000. Quantbot Technologies LP purchased a new position in Inhibrx Biosciences during the 2nd quarter valued at about $68,000. State of Wyoming acquired a new position in Inhibrx Biosciences in the 2nd quarter valued at about $116,000. Hurley Capital LLC acquired a new position in Inhibrx Biosciences in the 4th quarter valued at about $131,000. Finally, Seven Fleet Capital Management LP purchased a new stake in Inhibrx Biosciences during the first quarter worth about $167,000. 82.46% of the stock is owned by institutional investors and hedge funds.

Inhibrx Biosciences Company Profile

Inhibrx Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing biologic medicines for serious diseases with limited treatment options. The company uses a proprietary protein-engineering platform to design novel therapeutic proteins, including multivalent and long-acting biologics intended to selectively affect disease-related biological pathways.

Inhibrx’s development programs have included INBRX-101, also known as efzofitimod, an engineered fibroblast growth factor 1 intended for the treatment of alpha-1 antitrypsin deficiency-associated emphysema and other inflammatory lung conditions.