Insider Buying: Inhibrx Biosciences (NASDAQ:INBX) CEO Acquires $453,420.00 in Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) CEO Mark Lappe acquired 4,500 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The shares were purchased at an average cost of $100.76 per share, with a total value of $453,420.00. Following the transaction, the chief executive officer directly owned 740,548 shares of the company’s stock, valued at $74,617,616.48. This trade represents a 0.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, September 25th, Mark Lappe bought 5,500 shares of Inhibrx Biosciences stock. The stock was purchased at an average cost of $99.16 per share, for a total transaction of $545,380.00.
• On Tuesday, September 8th, Mark Lappe bought 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 Performance

Shares of Inhibrx Biosciences stock opened at $100.08 on Thursday. The company has a 50 day moving average of $102.22 and a 200-day moving average of $96.23. Inhibrx Biosciences, Inc. has a 1-year low of $28.16 and a 1-year high of $155.29. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 12.58. The company has a market cap of $1.47 billion, a PE ratio of -11.27 and a beta of 3.66.

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). As a group, equities research analysts forecast that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on INBX shares. HC Wainwright initiated coverage on Inhibrx Biosciences in a research report on Monday, August 24th. They issued a “buy” rating and a $245.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday, September 11th. 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. Finally, Citigroup reiterated a “market perform” rating on shares of Inhibrx Biosciences in a report on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Inhibrx Biosciences has an average rating of “Moderate Buy” and a consensus price target of $197.50.

Institutional Investors Weigh In On Inhibrx Biosciences

A number of institutional investors have recently added to or reduced their stakes in INBX. Perceptive Advisors LLC increased its position in Inhibrx Biosciences by 9.4% in the 4th quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company’s stock valued at $114,764,000 after acquiring an additional 125,000 shares during the period. Bank of America Corp DE bought a new stake in shares of Inhibrx Biosciences in the second quarter worth $79,698,000. BlackRock Inc. bought a new stake in shares of Inhibrx Biosciences in the second quarter worth $78,261,000. Sofinnova Investments Inc. increased its holdings in Inhibrx Biosciences by 3.3% in the fourth quarter. Sofinnova Investments Inc. now owns 454,657 shares of the company’s stock valued at $35,918,000 after purchasing an additional 14,565 shares during the period. Finally, Capital Research Global Investors acquired a new stake in Inhibrx Biosciences in the fourth quarter valued at $33,304,000. 82.46% of the stock is owned by institutional investors.

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.