Inhibrx Biosciences (NASDAQ:INBX) Rating Lowered to “Sell” at Wall Street Zen

Inhibrx Biosciences (NASDAQ:INBX) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

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

Inhibrx Biosciences Price Performance

Shares of NASDAQ INBX opened at $82.05 on Friday. Inhibrx Biosciences has a 12-month low of $20.55 and a 12-month high of $155.29. The company has a market cap of $1.20 billion, a P/E ratio of -9.78 and a beta of 3.51. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 12.58. The stock has a fifty day moving average price of $92.70 and a 200 day moving average price of $87.50.

Inhibrx Biosciences (NASDAQ:INBX) last released 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). Research analysts anticipate that Inhibrx Biosciences will post -10.15 EPS for the current fiscal year.

Institutional Trading of Inhibrx Biosciences

Several large investors have recently modified their holdings of the business. Tema ETFs LLC acquired a new position in shares of Inhibrx Biosciences in the second quarter worth about $964,000. Seven Fleet Capital Management LP purchased a new position in Inhibrx Biosciences in the first quarter valued at about $167,000. Janus Henderson Group PLC acquired a new stake in Inhibrx Biosciences during the 1st quarter valued at approximately $229,000. The Manufacturers Life Insurance Company grew its stake in Inhibrx Biosciences by 51.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 4,228 shares of the company’s stock valued at $284,000 after purchasing an additional 1,443 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in Inhibrx Biosciences by 76.4% during the 1st quarter. Quantinno Capital Management LP now owns 17,704 shares of the company’s stock worth $1,190,000 after purchasing an additional 7,666 shares during the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.

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.