Healthcare of Ontario Pension Plan Trust Fund Purchases Shares of 264,000 Inhibrx Biosciences, Inc. $INBX

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 264,000 shares of the company’s stock, valued at approximately $20,856,000.

Several other institutional investors also recently modified their holdings of INBX. Morgan Stanley boosted its holdings in shares of Inhibrx Biosciences by 163.7% in the fourth quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock worth $92,251,000 after buying an additional 724,872 shares during the period. Capital Research Global Investors acquired a new position in shares of Inhibrx Biosciences in the fourth quarter worth about $33,304,000. Caligan Partners LP acquired a new position in shares of Inhibrx Biosciences in the third quarter worth about $7,961,000. State Street Corp boosted its holdings in shares of Inhibrx Biosciences by 83.9% in the fourth quarter. State Street Corp now owns 374,961 shares of the company’s stock worth $29,622,000 after buying an additional 171,038 shares during the period. Finally, Readystate Asset Management LP boosted its holdings in shares of Inhibrx Biosciences by 534.1% in the third quarter. Readystate Asset Management LP now owns 170,158 shares of the company’s stock worth $5,731,000 after buying an additional 143,324 shares during the period. Institutional investors own 82.46% of the company’s stock.

Analysts Set New Price Targets

INBX has been the subject of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of Inhibrx Biosciences in a report on Wednesday, April 8th. They issued a “buy” rating and a $150.00 target price for the company. Wall Street Zen upgraded shares of Inhibrx Biosciences from a “sell” rating to a “hold” rating in a report on Saturday. Lifesci Capital upgraded shares of Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Finally, Zacks Research upgraded shares of Inhibrx Biosciences to a “hold” rating in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Inhibrx Biosciences has a consensus rating of “Hold” and an average target price of $150.00.

Inhibrx Biosciences Price Performance

NASDAQ INBX opened at $93.51 on Tuesday. The company has a 50 day simple moving average of $100.95 and a 200-day simple moving average of $85.11. The company has a debt-to-equity ratio of 12.58, a current ratio of 6.46 and a quick ratio of 6.46. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -11.15 and a beta of 3.33. Inhibrx Biosciences, Inc. has a 52-week low of $13.97 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47). Equities research analysts predict that Inhibrx Biosciences, Inc. 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.