Inhibrx Biosciences (NASDAQ:INBX) CEO Mark Lappe Acquires 10,040 Shares of Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) CEO Mark Lappe bought 10,040 shares of the company’s stock in a transaction dated Wednesday, October 14th. The stock was purchased at an average price of $84.56 per share, for a total transaction of $848,982.40. Following the purchase, the chief executive officer owned 745,588 shares of the company’s stock, valued at approximately $63,046,921.28. This represents a 1.36% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Mark Lappe also recently made the following trade(s):

• On Monday, September 28th, Mark Lappe bought 4,500 shares of Inhibrx Biosciences stock. The stock was acquired at an average cost of $100.76 per share, with a total value of $453,420.00.
• On Friday, September 25th, Mark Lappe purchased 5,500 shares of Inhibrx Biosciences stock. The shares were acquired at an average cost of $99.16 per share, for a total transaction of $545,380.00.
• On Tuesday, September 8th, Mark Lappe acquired 25,000 shares of Inhibrx Biosciences stock. The shares were acquired at an average cost of $105.82 per share, for a total transaction of $2,645,500.00.

Inhibrx Biosciences Stock Performance

NASDAQ INBX opened at $85.26 on Thursday. Inhibrx Biosciences, Inc. has a one year low of $28.16 and a one year high of $155.29. The stock has a 50-day moving average of $104.24 and a 200 day moving average of $98.09. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -9.60 and a beta of 3.81.

Inhibrx Biosciences (NASDAQ:INBX) last issued 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, equities analysts predict that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

INBX has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday, September 11th. Citigroup reissued a “market perform” rating on shares of Inhibrx Biosciences in a report on Friday, September 18th. Wall Street Zen downgraded shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Finally, HC Wainwright assumed coverage on shares of Inhibrx Biosciences in a research report on Monday, August 24th. They set a “buy” rating and a $245.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.50.

Institutional Trading of Inhibrx Biosciences

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

Inhibrx Biosciences Company Profile

Inhibrx Biosciences, Inc is a biotechnology company focused on discovering and developing engineered biologic medicines for serious diseases with limited treatment options. The company’s platform has been used to create multifunctional proteins and antibody-based therapies designed to address targets that may be difficult to treat with conventional drugs.

Its leading program was INBRX-101, an engineered recombinant human alpha-1 antitrypsin therapy developed for patients with alpha-1 antitrypsin deficiency-associated lung disease.