Jefferies Financial Group Weighs in on Inhibrx, Inc.’s FY2024 Earnings (NASDAQ:INBX)

Inhibrx, Inc. (NASDAQ:INBX – Get Rating) – Stock analysts at Jefferies Financial Group issued their FY2024 earnings per share (EPS) estimates for shares of Inhibrx in a research report issued to clients and investors on Monday, March 6th. Jefferies Financial Group analyst M. Yee expects that the company will post earnings of ($3.55) per share for the year. The consensus estimate for Inhibrx’s current full-year earnings is ($3.42) per share.

Several other research firms have also recently commented on INBX. JMP Securities lowered their price target on Inhibrx from $40.00 to $35.00 and set a “market outperform” rating for the company in a report on Wednesday. Credit Suisse Group restated an “outperform” rating and issued a $46.00 price target on shares of Inhibrx in a report on Tuesday.

Inhibrx Price Performance

INBX opened at $23.34 on Wednesday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -6.45 and a beta of 2.96. The business has a 50-day moving average of $24.15 and a two-hundred day moving average of $24.89. Inhibrx has a 12 month low of $7.67 and a 12 month high of $34.72.

Hedge Funds Weigh In On Inhibrx

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its position in Inhibrx by 633.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,346 shares of the company’s stock worth $47,000 after acquiring an additional 2,026 shares in the last quarter. Point72 Hong Kong Ltd lifted its position in Inhibrx by 154.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,879 shares of the company’s stock worth $33,000 after acquiring an additional 1,748 shares in the last quarter. Quantbot Technologies LP lifted its position in Inhibrx by 158.3% during the 1st quarter. Quantbot Technologies LP now owns 3,100 shares of the company’s stock worth $69,000 after acquiring an additional 1,900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Inhibrx by 418.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,704 shares of the company’s stock worth $66,000 after acquiring an additional 2,989 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Inhibrx by 18.1% during the 4th quarter. Amalgamated Bank now owns 5,452 shares of the company’s stock worth $134,000 after acquiring an additional 835 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Inhibrx

In other news, CEO Mark Lappe sold 26,000 shares of the business’s stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $25.56, for a total transaction of $664,560.00. Following the completion of the sale, the chief executive officer now owns 2,512,252 shares in the company, valued at approximately $64,213,161.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Mark Lappe sold 26,000 shares of the business’s stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $25.56, for a total transaction of $664,560.00. Following the completion of the sale, the chief executive officer now owns 2,512,252 shares in the company, valued at approximately $64,213,161.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jon Faiz Kayyem sold 9,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $27.02, for a total value of $256,690.00. Following the transaction, the director now directly owns 3,233,801 shares in the company, valued at $87,377,303.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,310 shares of company stock worth $3,203,546. 25.80% of the stock is currently owned by company insiders.

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.