Inhibrx Biosciences (NASDAQ:INBX) Upgraded to Hold at Wall Street Zen

Inhibrx Biosciences (NASDAQ:INBX) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other research analysts also recently issued reports on INBX. Zacks Research raised shares of Inhibrx Biosciences to a “hold” rating in a research report on Thursday, April 9th. Lifesci Capital raised shares of Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. Finally, Stifel Nicolaus began coverage on shares of Inhibrx Biosciences in a research report on Wednesday, April 8th. They set a “buy” rating and a $150.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Inhibrx Biosciences currently has an average rating of “Hold” and a consensus target price of $150.00.

Inhibrx Biosciences Trading Down 1.4%

INBX opened at $92.20 on Friday. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -10.99 and a beta of 3.31. Inhibrx Biosciences has a 52 week low of $13.97 and a 52 week high of $155.29. The business’s 50 day moving average is $100.35 and its two-hundred day moving average is $85.01. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 12.58.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings results on Thursday, May 14th. The company reported ($2.15) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.47). On average, research analysts predict that Inhibrx Biosciences will post -10.15 EPS for the current year.

Hedge Funds Weigh In On Inhibrx Biosciences

A number of large investors have recently bought and sold shares of INBX. Strs Ohio acquired a new position in Inhibrx Biosciences during the 1st quarter worth approximately $27,000. Russell Investments Group Ltd. boosted its position in shares of Inhibrx Biosciences by 11.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 29,993 shares of the company’s stock worth $428,000 after purchasing an additional 2,963 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of Inhibrx Biosciences during the 2nd quarter worth $193,000. Bank of America Corp DE boosted its position in shares of Inhibrx Biosciences by 19.2% during the 2nd quarter. Bank of America Corp DE now owns 9,130 shares of the company’s stock worth $130,000 after purchasing an additional 1,469 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Inhibrx Biosciences during the 2nd quarter worth $235,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

About Inhibrx Biosciences

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.