Inhibrx (NASDAQ:INBX) Shares Down 2.6%

Inhibrx, Inc. (NASDAQ:INBX)’s share price was down 2.6% during trading on Friday . The stock traded as low as $20.89 and last traded at $20.98. Approximately 48,290 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 392,054 shares. The stock had previously closed at $21.55.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on INBX shares. Lifesci Capital restated an “outperform” rating on shares of Inhibrx in a research report on Tuesday, August 8th. JMP Securities lowered their target price on shares of Inhibrx from $35.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 23rd.

Inhibrx Stock Performance

The stock has a market capitalization of $895.19 million, a PE ratio of -5.06 and a beta of 2.68. The firm’s fifty day moving average is $21.38 and its 200-day moving average is $22.39. The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 13.61.

Inhibrx (NASDAQ:INBX) last issued its quarterly earnings results on Monday, August 7th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.06). Inhibrx had a negative return on equity of 5,168.31% and a negative net margin of 28,749.25%. The business had revenue of $0.03 million for the quarter. As a group, research analysts anticipate that Inhibrx, Inc. will post -4.08 earnings per share for the current year.

Insider Transactions at Inhibrx

In related news, major shareholder Global Investors Lp Viking acquired 511,627 shares of the stock in a transaction dated Monday, August 28th. The stock was acquired at an average cost of $19.35 per share, with a total value of $9,899,982.45. Following the completion of the transaction, the insider now owns 511,627 shares in the company, valued at approximately $9,899,982.45. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 22.20% of the company’s stock.

Hedge Funds Weigh In On Inhibrx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. RA Capital Management L.P. purchased a new stake in Inhibrx in the fourth quarter valued at approximately $94,959,000. State Street Corp grew its holdings in Inhibrx by 282.7% in the third quarter. State Street Corp now owns 2,040,054 shares of the company’s stock valued at $36,619,000 after purchasing an additional 1,506,986 shares during the last quarter. Woodline Partners LP grew its holdings in Inhibrx by 385.3% in the second quarter. Woodline Partners LP now owns 1,524,915 shares of the company’s stock valued at $39,587,000 after purchasing an additional 1,210,720 shares during the last quarter. Loomis Sayles & Co. L P acquired a new stake in Inhibrx in the first quarter valued at $23,180,000. Finally, Millennium Management LLC acquired a new stake in shares of Inhibrx during the second quarter valued at $10,749,000. 82.46% of the stock is owned by institutional investors and hedge funds.

About Inhibrx

Inhibrx, Inc, a clinical-stage biopharmaceutical 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.