JMP Securities Lowers Inhibrx (NASDAQ:INBX) Price Target to $35.00

Inhibrx (NASDAQ:INBX – Get Rating) had its target price dropped by JMP Securities from $40.00 to $35.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ target price would suggest a potential upside of 53.85% from the company’s previous close.

Separately, Credit Suisse Group dropped their target price on shares of Inhibrx from $48.00 to $46.00 and set an “outperform” rating on the stock in a report on Tuesday, November 8th.

Inhibrx Stock Down 2.5 %

NASDAQ INBX opened at $22.75 on Wednesday. The company has a debt-to-equity ratio of 3.54, a current ratio of 10.17 and a quick ratio of 6.05. The company’s 50 day simple moving average is $24.13 and its 200 day simple moving average is $24.87. Inhibrx has a 12 month low of $7.67 and a 12 month high of $34.72. The company has a market capitalization of $991.22 million, a P/E ratio of -6.28 and a beta of 2.96.

Insider Activity at Inhibrx

In related news, insider Brendan P. Eckelman sold 32,895 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $23.77, for a total value of $781,914.15. Following the completion of the sale, the insider now owns 2,122,658 shares in the company, valued at approximately $50,455,580.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Inhibrx news, CEO Mark Lappe sold 26,000 shares of the company’s stock in a transaction that occurred on Monday, December 19th. The shares were sold at an average price of $25.56, for a total value of $664,560.00. Following the transaction, the chief executive officer now owns 2,512,252 shares in the company, valued at approximately $64,213,161.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brendan P. Eckelman sold 32,895 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $23.77, for a total transaction of $781,914.15. Following the completion of the transaction, the insider now owns 2,122,658 shares in the company, valued at approximately $50,455,580.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,310 shares of company stock worth $3,203,546. 25.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. RA Capital Management L.P. acquired a new position in shares of Inhibrx during the 4th quarter worth $94,959,000. Perceptive Advisors LLC increased its stake in shares of Inhibrx by 50.8% during the 3rd quarter. Perceptive Advisors LLC now owns 2,887,860 shares of the company’s stock worth $51,837,000 after purchasing an additional 973,268 shares during the last quarter. BlackRock Inc. increased its stake in shares of Inhibrx by 10.8% during the 3rd quarter. BlackRock Inc. now owns 2,190,518 shares of the company’s stock worth $39,320,000 after purchasing an additional 213,407 shares during the last quarter. State Street Corp increased its stake in shares of Inhibrx by 282.7% during the 3rd quarter. State Street Corp now owns 2,040,054 shares of the company’s stock worth $36,619,000 after purchasing an additional 1,506,986 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Inhibrx by 8.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,467,918 shares of the company’s stock worth $26,348,000 after purchasing an additional 111,802 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Inhibrx Company Profile

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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.