Inhibrx Biosciences (NASDAQ:INBX) Sees Strong Trading Volume on Insider Buying Activity

Inhibrx Biosciences, Inc. (NASDAQ:INBX) shares saw strong trading volume on Tuesday following insider buying activity. 332,846 shares traded hands during mid-day trading, an increase of 7% from the previous session’s volume of 311,249 shares.The stock last traded at $97.0620 and had previously closed at $121.17.

Specifically, Director Jon Kayyem acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was acquired at an average cost of $113.52 per share, for a total transaction of $567,600.00. Following the transaction, the director owned 424,360 shares of the company’s stock, valued at $48,173,347.20. This trade represents a 1.19% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Lappe bought 25,000 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were bought at an average price of $105.82 per share, for a total transaction of $2,645,500.00. Following the completion of the acquisition, the chief executive officer directly owned 730,548 shares in the company, valued at approximately $77,306,589.36. This trade represents a 3.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In related news, Director Douglas Forsyth purchased 2,500 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were purchased at an average price of $114.65 per share, with a total value of $286,625.00. Following the completion of the purchase, the director owned 227,064 shares in the company, valued at $26,032,887.60. This represents a 1.11% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

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

Inhibrx Biosciences News Summary

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

Inhibrx Biosciences Trading Down 1.3%

The company has a debt-to-equity ratio of 12.58, a current ratio of 5.07 and a quick ratio of 5.07. The business’s 50-day moving average is $98.52 and its two-hundred day moving average is $92.96. The firm has a market cap of $1.66 billion, a P/E ratio of -12.71 and a beta of 3.66.

Inhibrx Biosciences (NASDAQ:INBX) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06). As a group, analysts predict that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Persistent Asset Partners Ltd acquired a new position in shares of Inhibrx Biosciences during the 4th quarter worth approximately $27,000. Strs Ohio acquired a new stake in shares of Inhibrx Biosciences in the 1st quarter valued at approximately $27,000. Integrated Wealth Concepts LLC bought a new position in shares of Inhibrx Biosciences in the second quarter valued at $31,000. Public Employees Retirement System of Ohio bought a new position in shares of Inhibrx Biosciences in the third quarter valued at $40,000. Finally, BNP Paribas Financial Markets increased its holdings in Inhibrx Biosciences by 71.9% during the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock worth $64,000 after buying an additional 789 shares during the last quarter. 82.46% of the stock is owned by institutional investors and hedge funds.

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.