Inhibrx Biosciences (NASDAQ:INBX) Rating Increased to Hold at Wall Street Zen

Inhibrx Biosciences (NASDAQ:INBX) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Sunday.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus initiated coverage on Inhibrx Biosciences in a report on Wednesday, April 8th. They set a “buy” rating and a $150.00 price target for the company. Zacks Research upgraded Inhibrx Biosciences to a “hold” rating in a research note on Thursday, April 9th. Lifesci Capital raised shares of Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Inhibrx Biosciences has an average rating of “Hold” and an average target price of $150.00.

Inhibrx Biosciences Stock Down 10.4%

INBX stock traded down $10.84 during mid-day trading on Friday, reaching $93.01. 369,246 shares of the company traded hands, compared to its average volume of 341,554. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 12.58. The firm’s 50 day moving average price is $102.47 and its 200 day moving average price is $86.62. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -11.09 and a beta of 3.41. Inhibrx Biosciences has a fifty-two week low of $20.48 and a fifty-two week high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($2.15) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.47). As a group, equities research analysts predict that Inhibrx Biosciences will post -10.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Persistent Asset Partners Ltd purchased a new position in Inhibrx Biosciences in the fourth quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Inhibrx Biosciences by 26.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company’s stock valued at $56,000 after purchasing an additional 147 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Inhibrx Biosciences during the 4th quarter valued at $66,000. Public Employees Retirement System of Ohio bought a new stake in shares of Inhibrx Biosciences during the 3rd quarter worth $40,000. Finally, Diadema Partners LP bought a new stake in shares of Inhibrx Biosciences during the 4th quarter worth $103,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Inhibrx Biosciences Company Profile

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.