Inhibrx, Inc. (NASDAQ:INBX) Short Interest Update

Inhibrx, Inc. (NASDAQ:INBX) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 700,700 shares, a decline of 6.9% from the August 15th total of 752,900 shares. Based on an average daily trading volume, of 154,100 shares, the days-to-cover ratio is currently 4.5 days. Currently, 6.9% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Separately, JMP Securities started coverage on shares of Inhibrx in a research note on Tuesday, July 23rd. They issued a “market perform” rating for the company.

Inhibrx Stock Down 1.2 %

INBX stock opened at $17.22 on Wednesday. The business’s 50-day moving average is $13.79 and its two-hundred day moving average is $23.47. Inhibrx has a 1 year low of $10.80 and a 1 year high of $18.95.

Inhibrx (NASDAQ:INBX) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $125.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.60) by $129.08. The firm had revenue of $0.10 million during the quarter. On average, equities research analysts predict that Inhibrx will post 87.5 EPS for the current fiscal year.

Insider Activity

In other news, CEO Mark Lappe bought 9,500 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average price of $15.21 per share, with a total value of $144,495.00. Following the purchase, the chief executive officer now owns 657,048 shares in the company, valued at $9,993,700.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders bought 105,679 shares of company stock valued at $1,630,337. 22.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Inhibrx

Institutional investors have recently bought and sold shares of the business. Black Maple Capital Management LP purchased a new stake in Inhibrx during the first quarter worth approximately $555,000. Price T Rowe Associates Inc. MD lifted its position in shares of Inhibrx by 8.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,812 shares of the company’s stock worth $518,000 after buying an additional 1,112 shares during the last quarter. Alpine Global Management LLC acquired a new stake in Inhibrx during the 1st quarter worth $1,224,000. MMCAP International Inc. SPC acquired a new position in Inhibrx in the first quarter valued at $15,782,000. Finally, Entropy Technologies LP acquired a new stake in shares of Inhibrx during the first quarter worth about $384,000. 82.46% of the stock is owned by hedge funds and other institutional investors.

About Inhibrx

Inhibrx, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidate includes INBRX-101, an alpha-1 antitrypsin (AAT)-Fc fusion protein therapeutic candidate, which is in Phase 1 clinical trials for use in the treatment of patients with AAT deficiency.