Corient Private Wealth LLC Buys Shares of 20,443 Inhibrx Biosciences, Inc. $INBX

Corient Private Wealth LLC purchased a new stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,443 shares of the company’s stock, valued at approximately $1,615,000.

Several other hedge funds and other institutional investors have also made changes to their positions in INBX. Perceptive Advisors LLC grew its stake in Inhibrx Biosciences by 9.4% in the 4th quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company’s stock valued at $114,764,000 after acquiring an additional 125,000 shares during the last quarter. Morgan Stanley raised its position in Inhibrx Biosciences by 163.7% during the fourth quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock worth $92,251,000 after acquiring an additional 724,872 shares during the last quarter. Sofinnova Investments Inc. lifted 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 valued at $10,113,000 after purchasing an additional 10,762 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Inhibrx Biosciences by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 623,084 shares of the company’s stock valued at $49,224,000 after purchasing an additional 28,166 shares during the last quarter. Finally, Capital Research Global Investors acquired a new stake in shares of Inhibrx Biosciences in the fourth quarter valued at approximately $33,304,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Inhibrx Biosciences Stock Down 0.8%

Shares of NASDAQ:INBX opened at $94.75 on Wednesday. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 12.58. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -11.29 and a beta of 3.31. The stock’s 50-day moving average price is $105.18 and its two-hundred day moving average price is $85.77. Inhibrx Biosciences, Inc. has a 12-month low of $13.97 and a 12-month high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last announced its quarterly earnings data 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). On average, research analysts forecast that Inhibrx Biosciences, Inc. will post -10.15 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Lifesci Capital upgraded 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 report on Saturday. 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 research report on Wednesday, April 8th. They issued a “buy” rating and a $150.00 price objective on the stock. One research 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $150.00.

Inhibrx Biosciences 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.