Inhibrx Biosciences (NASDAQ:INBX) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Inhibrx Biosciences (NASDAQ:INBX) released its earnings results on Thursday. The company reported ($2.34) EPS for the quarter, missing the consensus estimate of ($2.28) by ($0.06), FiscalAI reports.

Inhibrx Biosciences Stock Performance

Shares of NASDAQ:INBX opened at $88.37 on Friday. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 12.58. The stock has a market capitalization of $1.30 billion, a P/E ratio of -9.95 and a beta of 3.51. The firm has a fifty day simple moving average of $90.88 and a two-hundred day simple moving average of $88.48. Inhibrx Biosciences has a 52 week low of $22.40 and a 52 week high of $155.29.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Persistent Asset Partners Ltd acquired a new stake in Inhibrx Biosciences in the fourth quarter worth about $27,000. Daiwa Securities Group Inc. acquired a new stake in Inhibrx Biosciences in the 4th quarter worth approximately $66,000. Public Employees Retirement System of Ohio purchased a new stake in Inhibrx Biosciences during the 3rd quarter worth approximately $40,000. Diadema Partners LP acquired a new position in Inhibrx Biosciences during the 4th quarter valued at approximately $103,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Inhibrx Biosciences by 71.9% in the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock worth $64,000 after buying an additional 789 shares during the last quarter. 82.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on INBX. Wall Street Zen upgraded shares of Inhibrx Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. Finally, Lifesci Capital upgraded Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $150.00.

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.