Perceptive Advisors LLC Decreases Stake in Inhibrx Biosciences, Inc. $INBX

Perceptive Advisors LLC cut its stake in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) by 0.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,442,707 shares of the company’s stock after selling 10,000 shares during the quarter. Inhibrx Biosciences makes up approximately 1.9% of Perceptive Advisors LLC’s portfolio, making the stock its 16th biggest position. Perceptive Advisors LLC owned 0.10% of Inhibrx Biosciences worth $96,993,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Inhibrx Biosciences in the fourth quarter worth approximately $1,271,000. PSP Research LLC purchased a new stake in shares of Inhibrx Biosciences in the 4th quarter valued at approximately $505,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Inhibrx Biosciences in the 4th quarter valued at approximately $20,856,000. Jefferies Financial Group Inc. acquired a new stake in shares of Inhibrx Biosciences in the 4th quarter valued at $703,000. Finally, UBS Group AG raised its holdings in shares of Inhibrx Biosciences by 681.9% in the 4th quarter. UBS Group AG now owns 73,699 shares of the company’s stock valued at $5,822,000 after purchasing an additional 64,273 shares in the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Inhibrx Biosciences Stock Down 3.2%

Shares of NASDAQ:INBX opened at $82.05 on Friday. The company has a market capitalization of $1.20 billion, a PE ratio of -9.78 and a beta of 3.41. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 12.58. Inhibrx Biosciences, Inc. has a twelve month low of $20.55 and a twelve month high of $155.29. The firm has a 50 day simple moving average of $92.70 and a 200-day simple moving average of $87.42.

Inhibrx Biosciences (NASDAQ:INBX) last issued its earnings results on Thursday, May 14th. The company reported ($2.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by ($0.47). On average, equities analysts predict that Inhibrx Biosciences, Inc. will post -10.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on INBX shares. Wall Street Zen downgraded shares of Inhibrx Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday. Zacks Research upgraded Inhibrx Biosciences to a “hold” rating in a research note on Thursday, April 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. Finally, Stifel Nicolaus started coverage on Inhibrx Biosciences in a 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 issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $150.00.

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.