Inhibrx Biosciences, Inc. (NASDAQ:INBX) Given Consensus Rating of “Hold” by Analysts

Shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) have earned a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $150.00.

A number of research analysts have recently commented on the company. Zacks Research raised Inhibrx Biosciences to a “hold” rating in a report on Thursday, April 9th. Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Wall Street Zen downgraded Inhibrx Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Stifel Nicolaus assumed coverage on Inhibrx Biosciences in a research note on Wednesday, April 8th. They set a “buy” rating and a $150.00 target price for the company.

Institutional Trading of Inhibrx Biosciences

Several hedge funds have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new stake in Inhibrx Biosciences during the 1st quarter valued at approximately $229,000. The Manufacturers Life Insurance Company boosted its stake in Inhibrx Biosciences by 51.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 4,228 shares of the company’s stock valued at $284,000 after purchasing an additional 1,443 shares during the period. Quantinno Capital Management LP boosted its stake in Inhibrx Biosciences by 76.4% during the 1st quarter. Quantinno Capital Management LP now owns 17,704 shares of the company’s stock valued at $1,190,000 after purchasing an additional 7,666 shares during the period. SummitTX Capital L.P. boosted its stake in Inhibrx Biosciences by 66.3% during the 1st quarter. SummitTX Capital L.P. now owns 137,821 shares of the company’s stock valued at $9,266,000 after purchasing an additional 54,936 shares during the period. Finally, Swiss National Bank bought a new stake in Inhibrx Biosciences during the 1st quarter valued at approximately $968,000. Institutional investors own 82.46% of the company’s stock.

Inhibrx Biosciences Stock Performance

Shares of NASDAQ INBX opened at $103.95 on Friday. The company has a debt-to-equity ratio of 12.58, a quick ratio of 6.46 and a current ratio of 6.46. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -12.39 and a beta of 3.88. The business’s 50-day simple moving average is $94.72 and its 200-day simple moving average is $84.06. Inhibrx Biosciences has a 52 week low of $12.72 and a 52 week high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($2.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47). As a group, equities research analysts expect that Inhibrx Biosciences will post -10.15 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.