Boothbay Fund Management LLC Boosts Holdings in Inhibrx Biosciences, Inc. $INBX

Boothbay Fund Management LLC increased its position in Inhibrx Biosciences, Inc. (NASDAQ:INBX) by 179.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,812 shares of the company’s stock after purchasing an additional 50,582 shares during the period. Boothbay Fund Management LLC owned approximately 0.54% of Inhibrx Biosciences worth $2,654,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sofinnova Investments Inc. raised its holdings in Inhibrx Biosciences by 1.5% in the second quarter. Sofinnova Investments Inc. now owns 708,678 shares of the company’s stock worth $10,113,000 after buying an additional 10,762 shares during the last quarter. Caligan Partners LP purchased a new position in Inhibrx Biosciences in the 3rd quarter worth approximately $7,961,000. Kennedy Capital Management LLC lifted its position in Inhibrx Biosciences by 7.5% in the 2nd quarter. Kennedy Capital Management LLC now owns 177,318 shares of the company’s stock valued at $2,530,000 after acquiring an additional 12,342 shares in the last quarter. Readystate Asset Management LP lifted its position in Inhibrx Biosciences by 534.1% in the 3rd quarter. Readystate Asset Management LP now owns 170,158 shares of the company’s stock valued at $5,731,000 after acquiring an additional 143,324 shares in the last quarter. Finally, SummitTX Capital L.P. purchased a new stake in Inhibrx Biosciences during the 3rd quarter valued at $1,824,000. 82.46% of the stock is owned by hedge funds and other institutional investors.

Inhibrx Biosciences Stock Performance

Shares of NASDAQ INBX opened at $69.26 on Tuesday. Inhibrx Biosciences, Inc. has a 12-month low of $10.81 and a 12-month high of $94.57. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -6.91 and a beta of 1.50. The company has a current ratio of 4.49, a quick ratio of 4.49 and a debt-to-equity ratio of 2.71. The firm has a 50 day moving average of $76.22 and a 200 day moving average of $64.97.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on INBX shares. Citigroup reaffirmed a “market perform” rating on shares of Inhibrx Biosciences in a report on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of Inhibrx Biosciences in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

Inhibrx Biosciences Profile

Inhibrx, Inc, headquartered in La Jolla, California, is a clinical-stage biotechnology company focused on the discovery and development of next-generation protein therapeutics. The company’s proprietary protein engineering platform enables the design and production of multispecific and multivalent biologics with tailored binding characteristics and favorable pharmacokinetic properties. By leveraging high-throughput screening and structure-based design, Inhibrx aims to create molecules that address challenging targets in oncology, regenerative medicine and other areas of unmet medical need.

The company’s lead candidate, INBRX-109, is a tetravalent agonist of the receptor tyrosine kinase ROR2 designed to stimulate tissue repair and regeneration.