Ethic Inc. Purchases New Shares in Inhibrx Biosciences, Inc. $INBX

Ethic Inc. purchased a new stake in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 15,739 shares of the company’s stock, valued at approximately $227,000. Ethic Inc. owned approximately 0.11% of Inhibrx Biosciences at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in Inhibrx Biosciences during the 1st quarter worth $27,000. Bluefin Capital Management LLC acquired a new position in Inhibrx Biosciences during the 1st quarter worth $160,000. XTX Topco Ltd acquired a new position in Inhibrx Biosciences during the 1st quarter worth $237,000. Nuveen LLC acquired a new position in Inhibrx Biosciences during the 1st quarter worth $350,000. Finally, Tabor Asset Management LP acquired a new position in Inhibrx Biosciences during the 1st quarter worth $506,000. 82.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Inhibrx Biosciences in a report on Wednesday, October 8th. JMP Securities reissued a “market perform” rating on shares of Inhibrx Biosciences in a report on Friday, August 22nd. Finally, Wall Street Zen raised shares of Inhibrx Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

Insiders Place Their Bets

In related news, major shareholder Global Investors Lp Viking sold 350,000 shares of Inhibrx Biosciences stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $32.25, for a total value of $11,287,500.00. Following the sale, the insider directly owned 67,018 shares in the company, valued at $2,161,330.50. This trade represents a 83.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 17.09% of the stock is currently owned by corporate insiders.

Inhibrx Biosciences Trading Up 1.9%

Inhibrx Biosciences stock opened at $78.51 on Friday. The firm’s 50-day moving average is $34.42 and its 200-day moving average is $22.75. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.98 and a current ratio of 4.98. Inhibrx Biosciences, Inc. has a 1 year low of $10.81 and a 1 year high of $83.78. The company has a market cap of $1.14 billion, a P/E ratio of -7.42 and a beta of 0.51.

Inhibrx Biosciences (NASDAQ:INBX) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($1.85) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.92) by $1.07. The business had revenue of $1.30 million during the quarter. On average, equities analysts expect that Inhibrx Biosciences, Inc. will post 104.88 earnings per share for the current year.

About Inhibrx Biosciences

Inhibrx, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidate includes 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.