Capital Research Global Investors Makes New $33.30 Million Investment in Inhibrx Biosciences, Inc. $INBX

Capital Research Global Investors bought a new position in Inhibrx Biosciences, Inc. (NASDAQ:INBX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 421,575 shares of the company’s stock, valued at approximately $33,304,000. Capital Research Global Investors owned 2.90% of Inhibrx Biosciences at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sofinnova Investments Inc. boosted its holdings in shares of Inhibrx Biosciences by 1.5% in the second quarter. Sofinnova Investments Inc. now owns 708,678 shares of the company’s stock worth $10,113,000 after buying an additional 10,762 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Inhibrx Biosciences by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 623,084 shares of the company’s stock worth $49,224,000 after purchasing an additional 28,166 shares during the period. Millennium Management LLC boosted its holdings in shares of Inhibrx Biosciences by 8.0% during the third quarter. Millennium Management LLC now owns 297,820 shares of the company’s stock worth $10,031,000 after purchasing an additional 22,042 shares during the period. Caligan Partners LP acquired a new stake in shares of Inhibrx Biosciences during the third quarter worth approximately $7,961,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Inhibrx Biosciences by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 226,009 shares of the company’s stock worth $17,859,000 after purchasing an additional 4,089 shares during the period. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Inhibrx Biosciences Stock Performance

INBX stock opened at $89.10 on Wednesday. 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 stock has a market cap of $1.31 billion, a P/E ratio of -10.62 and a beta of 3.31. The firm has a 50 day simple moving average of $98.73 and a 200 day simple moving average of $84.82. Inhibrx Biosciences, Inc. has a 52 week low of $13.92 and a 52 week high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last posted 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). Research analysts anticipate that Inhibrx Biosciences, Inc. will post -10.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

INBX has been the subject of several research reports. Lifesci Capital upgraded shares of Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Stifel Nicolaus initiated coverage on shares of Inhibrx Biosciences in a report on Wednesday, April 8th. They set a “buy” rating and a $150.00 price target for the company. Wall Street Zen cut shares of Inhibrx Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, Zacks Research upgraded shares of Inhibrx Biosciences to a “hold” rating in a report on Thursday, April 9th. One 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 given 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 price target of $150.00.

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.