Franklin Resources Inc. Makes New $316,000 Investment in Inhibrx Biosciences, Inc. $INBX

Franklin Resources Inc. purchased a new stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,170 shares of the company’s stock, valued at approximately $316,000. Franklin Resources Inc. owned about 0.15% of Inhibrx Biosciences as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Strs Ohio bought a new stake in shares of Inhibrx Biosciences during the first quarter worth about $27,000. Bluefin Capital Management LLC bought a new stake in Inhibrx Biosciences during the 1st quarter worth approximately $160,000. Ethic Inc. bought a new stake in Inhibrx Biosciences during the 2nd quarter worth approximately $227,000. XTX Topco Ltd acquired a new position in Inhibrx Biosciences in the 1st quarter valued at approximately $237,000. Finally, Nuveen LLC bought a new position in shares of Inhibrx Biosciences during the first quarter valued at $350,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Inhibrx Biosciences Stock Down 4.9%

Inhibrx Biosciences stock opened at $88.89 on Wednesday. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 2.71. The company has a market capitalization of $1.29 billion, a PE ratio of -8.87 and a beta of 1.18. The firm’s fifty day moving average is $64.47 and its 200 day moving average is $36.70. Inhibrx Biosciences, Inc. has a 12-month low of $10.81 and a 12-month high of $94.47.

Inhibrx Biosciences (NASDAQ:INBX) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($2.28) earnings per share for the quarter, beating the consensus estimate of ($2.94) by $0.66. As a group, sell-side analysts predict that Inhibrx Biosciences, Inc. will post 104.88 EPS for the current fiscal year.

Insiders Place Their Bets

In other Inhibrx Biosciences news, major shareholder Global Investors Lp Viking sold 350,000 shares of the stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $32.25, for a total value of $11,287,500.00. Following the transaction, the insider owned 67,018 shares in the company, valued at approximately $2,161,330.50. This represents a 83.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Inhibrx Biosciences in a report on Wednesday, October 8th. Citigroup reiterated a “market perform” rating on shares of Inhibrx Biosciences in a research report on Wednesday, November 19th. Finally, JMP Securities reissued a “market perform” rating on shares of Inhibrx Biosciences in a research note on Friday, August 22nd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

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.