Inhibrx Biosciences (NASDAQ:INBX) Director Sells $55,890.00 in Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Kimberly Manhard sold 500 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $111.78, for a total transaction of $55,890.00. Following the completion of the sale, the director owned 8,500 shares in the company, valued at approximately $950,130. This trade represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Kimberly Manhard also recently made the following trade(s):

• On Monday, September 14th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The shares were sold at an average price of $110.26, for a total transaction of $55,130.00.
• On Tuesday, September 8th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The stock was sold at an average price of $115.14, for a total value of $57,570.00.

Inhibrx Biosciences Stock Performance

Shares of INBX opened at $104.73 on Friday. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 12.58. The stock has a market cap of $1.54 billion, a P/E ratio of -11.79 and a beta of 3.66. The business’s 50 day moving average price is $99.51 and its 200-day moving average price is $94.21. Inhibrx Biosciences, Inc. has a 52 week low of $26.20 and a 52 week high of $155.29.

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

Institutional Trading of Inhibrx Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of INBX. Opaleye Management Inc. purchased a new position in shares of Inhibrx Biosciences in the second quarter worth $1,923,000. Tidal Investments LLC purchased a new stake in shares of Inhibrx Biosciences during the second quarter valued at $964,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Inhibrx Biosciences during the second quarter valued at $31,000. NINE MASTS CAPITAL Ltd bought a new stake in Inhibrx Biosciences in the 2nd quarter worth about $284,000. Finally, Harvest Management LLC purchased a new position in Inhibrx Biosciences in the 2nd quarter worth about $246,000. Institutional investors own 82.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen lowered Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday, September 11th. Citigroup restated a “market perform” rating on shares of Inhibrx Biosciences in a research note on Thursday, August 27th. Finally, HC Wainwright initiated coverage on shares of Inhibrx Biosciences in a report on Monday, August 24th. They issued a “buy” rating and a $245.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $197.50.

About Inhibrx Biosciences

Inhibrx Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing biologic medicines for serious diseases with limited treatment options. The company uses a proprietary protein-engineering platform to design novel therapeutic proteins, including multivalent and long-acting biologics intended to selectively affect disease-related biological pathways.

Inhibrx’s development programs have included INBRX-101, also known as efzofitimod, an engineered fibroblast growth factor 1 intended for the treatment of alpha-1 antitrypsin deficiency-associated emphysema and other inflammatory lung conditions.