Inhibrx Biosciences, Inc. (NASDAQ:INBX) Given Consensus Rating of “Hold” by Analysts

Shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) have received an average rating of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $150.00.

A number of brokerages have recently commented on INBX. Lifesci Capital upgraded shares of Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Wall Street Zen lowered Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th.

Hedge Funds Weigh In On Inhibrx Biosciences

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Perceptive Advisors LLC increased its position in Inhibrx Biosciences by 9.4% during the 4th quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company’s stock valued at $114,764,000 after purchasing an additional 125,000 shares during the period. Morgan Stanley raised its holdings in Inhibrx Biosciences by 163.7% during the 4th quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock worth $92,251,000 after purchasing an additional 724,872 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Inhibrx Biosciences in the 2nd quarter worth approximately $79,698,000. BlackRock Inc. bought a new stake in shares of Inhibrx Biosciences in the 2nd quarter valued at $78,261,000. Finally, Sofinnova Investments Inc. boosted its stake in shares of Inhibrx Biosciences by 1.5% in the 2nd quarter. Sofinnova Investments Inc. now owns 708,678 shares of the company’s stock valued at $10,113,000 after purchasing an additional 10,762 shares during the last quarter. 82.46% of the stock is owned by institutional investors and hedge funds.

Inhibrx Biosciences Stock Down 2.3%

Shares of NASDAQ INBX opened at $99.15 on Friday. The company has a 50 day simple moving average of $91.40 and a 200 day simple moving average of $89.23. The company has a debt-to-equity ratio of 12.58, a current ratio of 5.07 and a quick ratio of 5.07. Inhibrx Biosciences has a 1 year low of $23.77 and a 1 year high of $155.29. The firm has a market cap of $1.46 billion, a PE ratio of -11.17 and a beta of 3.51.

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

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.