Insider Buying: Inhibrx Biosciences (NASDAQ:INBX) CEO Acquires $848,982.40 in Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) CEO Mark Lappe bought 10,040 shares of the firm’s stock in a transaction on Wednesday, October 14th. The shares were purchased at an average price of $84.56 per share, for a total transaction of $848,982.40. Following the completion of the transaction, the chief executive officer owned 745,588 shares of the company’s stock, valued at $63,046,921.28. This represents a 1.36% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Mark Lappe also recently made the following trade(s):

• On Monday, September 28th, Mark Lappe bought 4,500 shares of Inhibrx Biosciences stock. The stock was purchased at an average cost of $100.76 per share, for a total transaction of $453,420.00.
• On Friday, September 25th, Mark Lappe purchased 5,500 shares of Inhibrx Biosciences stock. The stock was purchased at an average price of $99.16 per share, with a total value of $545,380.00.
• On Tuesday, September 8th, Mark Lappe purchased 25,000 shares of Inhibrx Biosciences stock. The stock was purchased at an average price of $105.82 per share, with a total value of $2,645,500.00.

Inhibrx Biosciences Stock Down 0.7%

NASDAQ:INBX opened at $89.83 on Friday. Inhibrx Biosciences, Inc. has a 52-week low of $28.16 and a 52-week high of $155.29. The stock has a fifty day simple moving average of $104.36 and a 200-day simple moving average of $98.26.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings data on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing the consensus estimate of ($2.28) by ($0.06). As a group, research analysts predict that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current year.

Analyst Ratings Changes

INBX has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday, September 11th. Citigroup reaffirmed a “market perform” rating on shares of Inhibrx Biosciences in a report on Friday, September 18th. Wall Street Zen lowered shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Finally, HC Wainwright started coverage on shares of Inhibrx Biosciences in a research note on Monday, August 24th. They set a “buy” rating and a $245.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $197.50.

Hedge Funds Weigh In On Inhibrx Biosciences

Several hedge funds have recently bought and sold shares of INBX. Integrated Wealth Concepts LLC acquired a new position in shares of Inhibrx Biosciences in the second quarter worth $31,000. Quantbot Technologies LP purchased a new stake in shares of Inhibrx Biosciences in the second quarter valued at $68,000. State of Wyoming purchased a new stake in shares of Inhibrx Biosciences in the second quarter valued at $116,000. Hurley Capital LLC purchased a new stake in shares of Inhibrx Biosciences in the fourth quarter valued at $131,000. Finally, Seven Fleet Capital Management LP acquired a new stake in shares of Inhibrx Biosciences during the first quarter valued at $167,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

About Inhibrx Biosciences

Inhibrx Biosciences, Inc is a biotechnology company focused on discovering and developing engineered biologic medicines for serious diseases with limited treatment options. The company’s platform has been used to create multifunctional proteins and antibody-based therapies designed to address targets that may be difficult to treat with conventional drugs.

Its leading program was INBRX-101, an engineered recombinant human alpha-1 antitrypsin therapy developed for patients with alpha-1 antitrypsin deficiency-associated lung disease.