Inhibrx Biosciences (NASDAQ:INBX) Releases Earnings Results, Misses Expectations By $0.47 EPS

Inhibrx Biosciences (NASDAQ:INBX) issued its quarterly earnings data on Thursday. The company reported ($2.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47), FiscalAI reports.

Inhibrx Biosciences Stock Down 1.5%

Shares of INBX traded down $1.79 during midday trading on Thursday, hitting $116.16. The company had a trading volume of 563,655 shares, compared to its average volume of 710,079. The company’s 50-day simple moving average is $86.96 and its 200-day simple moving average is $81.89. The company has a debt-to-equity ratio of 12.58, a quick ratio of 3.93 and a current ratio of 3.93. The firm has a market capitalization of $1.70 billion, a P/E ratio of -12.85 and a beta of 3.88. Inhibrx Biosciences has a 1 year low of $10.97 and a 1 year high of $155.29.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INBX shares. Zacks Research raised Inhibrx Biosciences to a “hold” rating in a research report on Thursday, April 9th. Stifel Nicolaus started coverage on Inhibrx Biosciences in a research report on Wednesday, April 8th. They issued a “buy” rating and a $150.00 target price for the company. Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Inhibrx Biosciences in a research report on Thursday, January 22nd. Finally, Wall Street Zen raised Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $150.00.

Hedge Funds Weigh In On Inhibrx Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in INBX. Morgan Stanley lifted its position in shares of 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 buying an additional 724,872 shares during the last quarter. Caligan Partners LP purchased a new stake in Inhibrx Biosciences in the third quarter valued at approximately $7,961,000. State Street Corp lifted its stake in Inhibrx Biosciences by 83.9% in the fourth quarter. State Street Corp now owns 374,961 shares of the company’s stock valued at $29,622,000 after buying an additional 171,038 shares during the last quarter. Norges Bank acquired a new stake in shares of Inhibrx Biosciences in the fourth quarter valued at approximately $10,531,000. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in shares of Inhibrx Biosciences by 120.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 214,725 shares of the company’s stock valued at $16,963,000 after acquiring an additional 117,343 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.

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.