Inhibrx Biosciences (NASDAQ:INBX) Stock Price Up 9.9% on Insider Buying Activity

Inhibrx Biosciences, Inc. (NASDAQ:INBX)’s share price shot up 9.9% on Wednesday following insider buying activity. The stock traded as high as $126.48 and last traded at $125.6080. Approximately 98,845 shares traded hands during trading, a decline of 69% from the average daily volume of 318,316 shares. The stock had previously closed at $114.34.

Specifically, Director Jon Kayyem purchased 5,000 shares of Inhibrx Biosciences stock in a transaction that occurred on Tuesday, September 8th. The stock was purchased at an average price of $113.52 per share, for a total transaction of $567,600.00. Following the transaction, the director directly owned 424,360 shares in the company, valued at $48,173,347.20. This trade represents a 1.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Lappe purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were acquired at an average price of $105.82 per share, with a total value of $2,645,500.00. Following the purchase, the chief executive officer owned 730,548 shares in the company, valued at $77,306,589.36. This trade represents a 3.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In other Inhibrx Biosciences news, Director Douglas Forsyth acquired 2,500 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were bought at an average cost of $114.65 per share, for a total transaction of $286,625.00. Following the completion of the purchase, the director owned 227,064 shares in the company, valued at $26,032,887.60. This trade represents a 1.11% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. Citigroup reissued a “market perform” rating on shares of Inhibrx Biosciences in a report on Thursday, August 27th. HC Wainwright assumed coverage on Inhibrx Biosciences in a research note on Monday, August 24th. They set a “buy” rating and a $245.00 price target for the company. Finally, Wall Street Zen cut shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $197.50.

Key Stories Impacting Inhibrx Biosciences

Here are the key news stories impacting Inhibrx Biosciences this week:

• Positive Sentiment: Strong head-and-neck cancer data: INBRX-106 combined with Merck’s Keytruda produced a 48.3% confirmed overall response rate, compared with 26.5% for Keytruda alone. Six-month progression-free survival was 72.4% versus 42.8%, while interim median progression-free survival reached 9.6 months. Inhibrx Phase 2 HNSCC study results
• Positive Sentiment: Especially compelling HPV-positive results: The combination delivered an 80.0% response rate versus 33.3% for Keytruda alone, a 30.0% complete-response rate versus zero for monotherapy, and a substantial improvement in six-month progression-free survival. Reuters report on Inhibrx cancer study
• Positive Sentiment: Management insider buying: CEO Mark Lappe bought 25,000 shares for approximately $2.65 million. Directors Jon Kayyem and Douglas Forsyth also purchased 5,000 and 2,500 shares, respectively, signaling management confidence in INBX’s outlook. Inhibrx CEO insider purchase
• Neutral Sentiment: Additional development planned: Inhibrx intends to add approximately 50 HPV-positive patients to the Phase 2 study and may pursue an accelerated-approval pathway. Ozekibart also remains a longer-term catalyst, with an FDA biologics decision expected by April 2027.
• Negative Sentiment: Why the response remains restrained: The HNSCC findings are from a mid-stage trial and require confirmation, expanded enrollment and regulatory review. Investors may also be taking profits after INBX’s earlier gains, while the company remains loss-making and reported quarterly EPS below consensus. The stock’s high volatility further amplifies the reaction to changing expectations.

Inhibrx Biosciences Price Performance

The stock has a fifty day moving average of $98.17 and a two-hundred day moving average of $92.74. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -14.15 and a beta of 3.66. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 12.58.

Inhibrx Biosciences (NASDAQ:INBX) last released its earnings results on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06). On average, equities research analysts anticipate that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current year.

Hedge Funds Weigh In On Inhibrx Biosciences

Large investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Inhibrx Biosciences in the second quarter valued at about $31,000. California State Teachers Retirement System grew its position in Inhibrx Biosciences by 149,396.5% during the second quarter. California State Teachers Retirement System now owns 734,028 shares of the company’s stock worth $69,549,000 after buying an additional 733,537 shares during the period. NINE MASTS CAPITAL Ltd purchased a new position in Inhibrx Biosciences in the second quarter valued at about $284,000. Harvest Management LLC purchased a new position in Inhibrx Biosciences in the second quarter valued at about $246,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Inhibrx Biosciences by 29,850.7% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 20,067 shares of the company’s stock valued at $1,901,000 after acquiring an additional 20,000 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.

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.