Mark Lappe Purchases 25,000 Shares of Inhibrx Biosciences (NASDAQ:INBX) Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) CEO Mark Lappe purchased 25,000 shares of Inhibrx Biosciences stock in a transaction on Tuesday, September 8th. The stock was bought at an average cost of $105.82 per share, with a total value of $2,645,500.00. Following the completion of the acquisition, the chief executive officer owned 730,548 shares in the company, valued at approximately $77,306,589.36. This trade represents a 3.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Inhibrx Biosciences Stock Down 1.3%

Shares of INBX opened at $112.86 on Thursday. The company has a debt-to-equity ratio of 12.58, a quick ratio of 5.07 and a current ratio of 5.07. The company has a 50-day simple moving average of $98.52 and a 200-day simple moving average of $92.96. Inhibrx Biosciences, Inc. has a 52 week low of $26.19 and a 52 week high of $155.29. The firm has a market capitalization of $1.66 billion, a P/E ratio of -12.71 and a beta of 3.66.

Inhibrx Biosciences (NASDAQ:INBX) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.28) by ($0.06). On average, equities research analysts expect that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current year.

Hedge Funds Weigh In On Inhibrx Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Opaleye Management Inc. bought a new stake in shares of Inhibrx Biosciences in the 2nd quarter valued at about $1,923,000. Tidal Investments LLC bought a new position in Inhibrx Biosciences during the 2nd quarter worth approximately $964,000. Integrated Wealth Concepts LLC bought a new position in Inhibrx Biosciences during the 2nd quarter worth approximately $31,000. California State Teachers Retirement System grew its holdings in Inhibrx Biosciences by 149,396.5% during the second quarter. California State Teachers Retirement System now owns 734,028 shares of the company’s stock valued at $69,549,000 after purchasing an additional 733,537 shares during the period. Finally, NINE MASTS CAPITAL Ltd acquired a new position in Inhibrx Biosciences during the second quarter valued at approximately $284,000. Institutional investors own 82.46% of the company’s stock.

Key Headlines Impacting Inhibrx Biosciences

Here are the key news stories impacting Inhibrx Biosciences this week:

• Positive Sentiment: Strong head-and-neck cancer results: INBRX-106 combined with Merck’s Keytruda produced a 48.3% confirmed overall response rate, compared with 26.5% for Keytruda alone. Six-month progression-free survival was 72.4% versus 42.8%, while interim median progression-free survival reached 9.6 months. Inhibrx Phase 2 HNSCC study results
• Positive Sentiment: Especially compelling HPV-positive subgroup: The combination generated an 80% response rate versus 33.3% with Keytruda alone, a 30% complete-response rate versus zero for monotherapy, and markedly better six-month progression-free survival. Inhibrx plans to add approximately 50 HPV-positive patients to the Phase 2 study, potentially supporting an accelerated-approval strategy. Reuters report on Inhibrx cancer study
• Positive Sentiment: Significant insider buying: CEO Mark Lappe bought 25,000 shares for about $2.65 million, while directors Jon Kayyem and Douglas Forsyth purchased 5,000 and 2,500 shares, respectively. The purchases may support investor confidence in management’s view of the company’s prospects. Inhibrx insider purchases
• Neutral Sentiment: Additional pipeline potential: Inhibrx is also developing ozekibart and INBRX-106 for rare cancers and larger immuno-oncology markets. Ozekibart’s FDA biologics-license application decision is expected by April 2027, leaving a potentially important catalyst ahead.
• Negative Sentiment: Market response remains lukewarm: Investors may have expected an even stronger catalyst from the HNSCC data, and the results remain from a mid-stage trial. Further enrollment, regulatory review, and confirmation in larger studies are still required before the opportunity can be fully valued. Analysis of the market response to Inhibrx HNSCC data

Wall Street Analyst Weigh In

INBX has been the topic of a number of recent analyst reports. HC Wainwright initiated coverage on Inhibrx Biosciences in a research note on Monday, August 24th. They issued a “buy” rating and a $245.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Citigroup reissued a “market perform” rating on shares of Inhibrx Biosciences in a report on Thursday, August 27th. Finally, Wall Street Zen downgraded shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.50.

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.