Inhibrx Biosciences (NASDAQ:INBX) Raised to “Hold” at Wall Street Zen

Inhibrx Biosciences (NASDAQ:INBX) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Sunday.

A number of other research analysts have also weighed in on INBX. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $150.00.

Inhibrx Biosciences Trading Up 5.0%

Shares of INBX stock opened at $93.11 on Friday. Inhibrx Biosciences has a 12 month low of $20.57 and a 12 month high of $155.29. The company has a market cap of $1.37 billion, a PE ratio of -11.10 and a beta of 3.51. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 12.58. The business’s 50 day moving average is $90.70 and its two-hundred day moving average is $88.07.

Inhibrx Biosciences (NASDAQ:INBX) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($2.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47). Equities analysts predict that Inhibrx Biosciences will post -10.15 EPS for the current year.

Institutional Trading of Inhibrx Biosciences

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new position in shares of Inhibrx Biosciences during the 1st quarter worth about $27,000. Russell Investments Group Ltd. grew its position in 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 buying an additional 2,963 shares in the last quarter. Invesco Ltd. bought a new position in Inhibrx Biosciences during the second quarter valued at about $193,000. Bank of America Corp DE raised its holdings 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 acquiring an additional 1,469 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Inhibrx Biosciences during the 2nd quarter worth approximately $235,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

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.