Corient Private Wealth LLC Invests $1.61 Million in Inhibrx Biosciences, Inc. $INBX

Corient Private Wealth LLC purchased a new stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 20,443 shares of the company’s stock, valued at approximately $1,615,000. Corient Private Wealth LLC owned 0.14% of Inhibrx Biosciences as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INBX. Strs Ohio purchased a new position in shares of Inhibrx Biosciences in the 1st quarter valued at approximately $27,000. Russell Investments Group Ltd. lifted its holdings in shares of Inhibrx Biosciences by 11.0% during the second 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 during the period. Invesco Ltd. acquired a new stake in shares of Inhibrx Biosciences during the second quarter worth $193,000. Bank of America Corp DE grew its position in Inhibrx Biosciences by 19.2% in the 2nd quarter. Bank of America Corp DE now owns 9,130 shares of the company’s stock valued at $130,000 after buying an additional 1,469 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new position in Inhibrx Biosciences in the 2nd quarter valued at $235,000. 82.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INBX. Zacks Research upgraded shares of Inhibrx Biosciences to a “hold” rating in a research report on Thursday, April 9th. Wall Street Zen lowered shares of Inhibrx Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday. Stifel Nicolaus started 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. Lifesci Capital upgraded shares of Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Inhibrx Biosciences currently has an average rating of “Hold” and a consensus target price of $150.00.

Inhibrx Biosciences Stock Down 0.8%

Shares of NASDAQ INBX opened at $94.75 on Wednesday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -11.29 and a beta of 3.31. Inhibrx Biosciences, Inc. has a 52 week low of $13.97 and a 52 week high of $155.29. The firm has a 50-day moving average price of $105.18 and a 200 day moving average price of $85.77. 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 issued its earnings results on Thursday, May 14th. The company reported ($2.15) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.47). Equities research analysts anticipate that Inhibrx Biosciences, Inc. will post -10.15 EPS for the current fiscal 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.