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

Wall Street Zen downgraded shares of Inhibrx Biosciences (NASDAQ:INBX) from a hold rating to a strong sell rating in a research note issued to investors on Monday.

A number of other research analysts have also recently issued reports on INBX. Lifesci Capital upgraded shares of Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $150.00.

Inhibrx Biosciences Trading Up 4.1%

Shares of Inhibrx Biosciences stock opened at $92.01 on Monday. The company has a debt-to-equity ratio of 12.58, a quick ratio of 5.07 and a current ratio of 5.07. Inhibrx Biosciences has a 52 week low of $22.40 and a 52 week high of $155.29. The stock has a 50 day moving average price of $90.93 and a two-hundred day moving average price of $88.72. The stock has a market capitalization of $1.35 billion, a PE ratio of -10.36 and a beta of 3.51.

Inhibrx Biosciences (NASDAQ:INBX) last issued its earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06). As a group, equities analysts anticipate that Inhibrx Biosciences will post -10.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd purchased a new stake in Inhibrx Biosciences in the 4th quarter valued at about $27,000. Strs Ohio bought a new position in shares of Inhibrx Biosciences in the first quarter valued at approximately $27,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Inhibrx Biosciences during the third quarter valued at approximately $40,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Inhibrx Biosciences by 26.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company’s stock worth $56,000 after acquiring an additional 147 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Inhibrx Biosciences by 71.9% in the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock worth $64,000 after purchasing an additional 789 shares during the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

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.