Vanguard Group Inc. Increases Stock Holdings in Inhibrx Biosciences, Inc. $INBX

Vanguard Group Inc. raised its stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 623,084 shares of the company’s stock after purchasing an additional 28,166 shares during the period. Vanguard Group Inc. owned 4.29% of Inhibrx Biosciences worth $49,224,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in Inhibrx Biosciences in the first quarter valued at approximately $27,000. Public Employees Retirement System of Ohio purchased a new position in Inhibrx Biosciences in the third quarter valued at approximately $40,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Inhibrx Biosciences by 26.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company’s stock valued at $56,000 after purchasing an additional 147 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Inhibrx Biosciences by 71.9% in the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock valued at $64,000 after purchasing an additional 789 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Inhibrx Biosciences by 19.2% in the second quarter. Bank of America Corp DE now owns 9,130 shares of the company’s stock valued at $130,000 after purchasing an additional 1,469 shares during the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Inhibrx Biosciences Stock Performance

Shares of INBX opened at $108.64 on Friday. The company has a current ratio of 3.93, a quick ratio of 3.93 and a debt-to-equity ratio of 12.58. The firm has a market cap of $1.59 billion, a PE ratio of -12.95 and a beta of 3.88. The company’s 50 day simple moving average is $87.64 and its 200-day simple moving average is $82.07. Inhibrx Biosciences, Inc. has a 12-month low of $12.02 and a 12-month high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last announced its earnings results on Thursday, May 14th. The company reported ($2.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47). As a group, equities analysts predict that Inhibrx Biosciences, Inc. will post -11.15 EPS for the current year.

Wall Street Analyst Weigh In

INBX has been the topic of several recent analyst reports. Zacks Research upgraded shares of Inhibrx Biosciences to a “hold” rating in a research note on Thursday, April 9th. Wall Street Zen upgraded shares of Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Stifel Nicolaus started coverage on shares of Inhibrx Biosciences in a research note on Wednesday, April 8th. They issued a “buy” rating and a $150.00 price target on the stock. Lifesci Capital upgraded shares of Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Inhibrx Biosciences in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $150.00.

Inhibrx Biosciences 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.