Inhibrx Biosciences, Inc. (NASDAQ:INBX) Receives Consensus Recommendation of “Hold” from Brokerages

Inhibrx Biosciences, Inc. (NASDAQ:INBX) has earned an average rating of “Hold” from the six analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $150.00.

Several equities research analysts have weighed in on the company. Wall Street Zen raised Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. Zacks Research upgraded Inhibrx Biosciences to a “hold” rating in a research note on Thursday, April 9th. Stifel Nicolaus began coverage on Inhibrx Biosciences in a report on Wednesday, April 8th. They set a “buy” rating and a $150.00 target price on the stock. Finally, Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th.

Hedge Funds Weigh In On Inhibrx Biosciences

Several institutional investors have recently made changes to their positions in the company. Strs Ohio purchased a new stake in Inhibrx Biosciences during the first quarter worth $27,000. Russell Investments Group Ltd. increased its holdings in Inhibrx Biosciences by 11.0% in the second quarter. Russell Investments Group Ltd. now owns 29,993 shares of the company’s stock valued at $428,000 after buying an additional 2,963 shares in the last quarter. Invesco Ltd. purchased a new position in Inhibrx Biosciences in the second quarter valued at $193,000. Bank of America Corp DE raised its position in shares of Inhibrx Biosciences by 19.2% in the second quarter. Bank of America Corp DE now owns 9,130 shares of the company’s stock worth $130,000 after acquiring an additional 1,469 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Inhibrx Biosciences in the second quarter worth about $235,000. 82.46% of the stock is owned by hedge funds and other institutional investors.

Inhibrx Biosciences Price Performance

INBX stock opened at $87.39 on Monday. The company has a market capitalization of $1.28 billion, a P/E ratio of -10.42 and a beta of 3.41. Inhibrx Biosciences has a 12 month low of $20.55 and a 12 month high of $155.29. The firm’s fifty day simple moving average is $98.37 and its 200-day simple moving average is $87.02. The company has a debt-to-equity ratio of 12.58, a current ratio of 6.46 and a quick ratio of 6.46.

Inhibrx Biosciences (NASDAQ:INBX) last issued its earnings results on Thursday, May 14th. The company reported ($2.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by ($0.47). As a group, equities research analysts forecast that Inhibrx Biosciences will post -10.15 earnings per share for the current year.

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.