Inhibrx Biosciences (NASDAQ:INBX) Lowered to Sell Rating by Wall Street Zen

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

A number of other analysts also recently weighed in on INBX. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. Lifesci Capital upgraded Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. Zacks Research raised Inhibrx Biosciences to a “hold” rating in a report on Thursday, April 9th. Finally, Stifel Nicolaus assumed coverage on Inhibrx Biosciences in a report on Wednesday, April 8th. They issued a “buy” rating and a $150.00 target price for the company. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Inhibrx Biosciences presently has a consensus rating of “Hold” and an average target price of $150.00.

Inhibrx Biosciences Price Performance

Shares of INBX opened at $94.81 on Friday. Inhibrx Biosciences has a twelve month low of $13.97 and a twelve month high of $155.29. The stock’s 50 day moving average is $104.81 and its two-hundred day moving average is $85.71. The firm has a market capitalization of $1.39 billion, a PE ratio of -11.30 and a beta of 3.31. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 12.58.

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

Institutional Investors Weigh In On Inhibrx Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Seven Fleet Capital Management LP acquired a new stake in shares of Inhibrx Biosciences during the 1st quarter valued at approximately $167,000. Janus Henderson Group PLC acquired a new stake in shares of Inhibrx Biosciences in the 1st quarter worth approximately $229,000. The Manufacturers Life Insurance Company increased its stake in Inhibrx Biosciences by 51.8% in 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 in the last quarter. Quantinno Capital Management LP increased its stake in Inhibrx Biosciences by 76.4% in 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 in the last quarter. Finally, SummitTX Capital L.P. raised its holdings in Inhibrx Biosciences by 66.3% during the first quarter. SummitTX Capital L.P. now owns 137,821 shares of the company’s stock worth $9,266,000 after purchasing an additional 54,936 shares during the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.

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.