Short Interest in Inhibrx Biosciences, Inc. (NASDAQ:INBX) Increases By 63.1%

Inhibrx Biosciences, Inc. (NASDAQ:INBX) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 1,712,725 shares, a growth of 63.1% from the December 15th total of 1,049,942 shares. Currently, 11.8% of the shares of the company are short sold. Based on an average daily trading volume, of 277,794 shares, the days-to-cover ratio is presently 6.2 days. Based on an average daily trading volume, of 277,794 shares, the days-to-cover ratio is presently 6.2 days. Currently, 11.8% of the shares of the company are short sold.

Hedge Funds Weigh In On Inhibrx Biosciences

Institutional investors have recently made changes to their positions in the business. Caligan Partners LP acquired a new stake in shares of Inhibrx Biosciences during the third quarter worth approximately $7,961,000. Readystate Asset Management LP increased its position in shares of Inhibrx Biosciences by 534.1% in the 3rd quarter. Readystate Asset Management LP now owns 170,158 shares of the company’s stock worth $5,731,000 after purchasing an additional 143,324 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Inhibrx Biosciences in the 3rd quarter valued at about $1,926,000. SummitTX Capital L.P. bought a new position in shares of Inhibrx Biosciences during the third quarter worth about $1,824,000. Finally, Boothbay Fund Management LLC lifted its position in shares of Inhibrx Biosciences by 179.2% during the third quarter. Boothbay Fund Management LLC now owns 78,812 shares of the company’s stock worth $2,654,000 after purchasing an additional 50,582 shares during the last quarter. 82.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INBX. Weiss Ratings reissued a “sell (d)” rating on shares of Inhibrx Biosciences in a report on Wednesday, October 8th. Citigroup reaffirmed a “market perform” rating on shares of Inhibrx Biosciences in a report on Wednesday, November 19th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Inhibrx Biosciences Price Performance

INBX stock opened at $72.27 on Friday. The company has a debt-to-equity ratio of 2.71, a quick ratio of 4.49 and a current ratio of 4.49. Inhibrx Biosciences has a 1 year low of $10.81 and a 1 year high of $94.57. The stock has a 50-day simple moving average of $80.09 and a 200-day simple moving average of $49.15. The firm has a market cap of $1.05 billion, a P/E ratio of -7.21 and a beta of 1.34.

Inhibrx Biosciences (NASDAQ:INBX) last posted its earnings results on Thursday, November 13th. The company reported ($2.28) EPS for the quarter, topping analysts’ consensus estimates of ($2.94) by $0.66. On average, equities analysts predict that Inhibrx Biosciences will post 104.88 earnings per share for the current fiscal year.

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.