Inhibrx, Inc. Expected to Post FY2022 Earnings of ($3.02) Per Share (NASDAQ:INBX)

Inhibrx, Inc. (NASDAQ:INBXGet Rating) – Stock analysts at Lifesci Capital dropped their FY2022 EPS estimates for Inhibrx in a research note issued on Monday, November 7th. Lifesci Capital analyst A. Evertts now forecasts that the company will post earnings of ($3.02) per share for the year, down from their prior estimate of ($2.94). The consensus estimate for Inhibrx’s current full-year earnings is ($3.38) per share.

Inhibrx (NASDAQ:INBXGet Rating) last posted its earnings results on Monday, August 8th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.13). The company had revenue of $0.71 million for the quarter, compared to the consensus estimate of $0.90 million. Inhibrx had a negative return on equity of 503.27% and a negative net margin of 2,628.82%.

A number of other research firms have also recently weighed in on INBX. Evercore ISI boosted their target price on shares of Inhibrx from $54.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 5th. JMP Securities reaffirmed a “buy” rating and set a $40.00 target price on shares of Inhibrx in a research note on Wednesday, October 5th. Finally, Credit Suisse Group reduced their price objective on shares of Inhibrx from $48.00 to $46.00 and set an “outperform” rating on the stock in a research note on Tuesday.

Inhibrx Stock Performance

NASDAQ INBX opened at $32.19 on Thursday. The firm’s fifty day moving average price is $24.10 and its two-hundred day moving average price is $18.72. The stock has a market cap of $1.40 billion, a PE ratio of -10.00 and a beta of 3.25. Inhibrx has a fifty-two week low of $7.67 and a fifty-two week high of $45.99. The company has a debt-to-equity ratio of 4.16, a quick ratio of 7.50 and a current ratio of 7.50.

Insider Buying and Selling

In related news, Director Jon Faiz Kayyem sold 9,500 shares of the business’s stock in a transaction on Friday, October 21st. The shares were sold at an average price of $30.13, for a total value of $286,235.00. Following the sale, the director now owns 3,252,801 shares of the company’s stock, valued at $98,006,894.13. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Inhibrx news, Director Jon Faiz Kayyem sold 9,500 shares of the company’s stock in a transaction on Friday, October 21st. The shares were sold at an average price of $30.13, for a total transaction of $286,235.00. Following the sale, the director now owns 3,252,801 shares of the company’s stock, valued at $98,006,894.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Lappe sold 26,000 shares of the company’s stock in a transaction on Monday, October 17th. The shares were sold at an average price of $29.59, for a total transaction of $769,340.00. Following the sale, the chief executive officer now directly owns 2,564,252 shares in the company, valued at approximately $75,876,216.68. The disclosure for this sale can be found here. Insiders have sold a total of 115,500 shares of company stock valued at $3,508,775 over the last 90 days. 25.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Inhibrx

Several institutional investors have recently made changes to their positions in the stock. M&T Bank Corp raised its holdings in shares of Inhibrx by 9.1% during the first quarter. M&T Bank Corp now owns 11,743 shares of the company’s stock valued at $262,000 after purchasing an additional 975 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Inhibrx by 1.2% during the first quarter. Bank of New York Mellon Corp now owns 86,174 shares of the company’s stock valued at $1,920,000 after purchasing an additional 1,017 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Inhibrx by 24.6% during the third quarter. Tower Research Capital LLC TRC now owns 5,653 shares of the company’s stock valued at $101,000 after purchasing an additional 1,115 shares during the period. Swiss National Bank raised its holdings in shares of Inhibrx by 5.6% during the first quarter. Swiss National Bank now owns 22,500 shares of the company’s stock valued at $501,000 after purchasing an additional 1,200 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Inhibrx by 7.3% during the second quarter. JPMorgan Chase & Co. now owns 25,335 shares of the company’s stock valued at $288,000 after purchasing an additional 1,721 shares during the period. Institutional investors and hedge funds own 67.27% of the company’s stock.

About Inhibrx

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Inhibrx, Inc, a clinical-stage biotechnology company, focuses on developing a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidates include INBRX-109, a tetravalent agonist of death receptor 5, which is in Phase 2 clinical trials to treat cancers, such as chondrosarcoma, mesothelioma, and pancreatic adenocarcinoma; INBRX-105, a tetravalent conditional agonist of programmed death-ligand 1 and a conditional agonist of 4-1BB that is in Phase 1 clinical trials to treat patients with locally advanced or metastatic solid tumors; and INBRX-101, an alpha-1 antitrypsin (AAT)-Fc fusion protein therapeutic candidate, which is in Phase 1 clinical trials for use in the treatment of patients with AAT deficiency.

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Earnings History and Estimates for Inhibrx (NASDAQ:INBX)

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