Inhibrx Biosciences (NASDAQ:INBX) Upgraded at Zacks Research

Zacks Research upgraded shares of Inhibrx Biosciences (NASDAQ:INBX) to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other research analysts have also recently weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Inhibrx Biosciences in a research note on Thursday, January 22nd. Wall Street Zen cut shares of Inhibrx Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Stifel Nicolaus initiated coverage on shares of Inhibrx Biosciences in a research note on Wednesday. They set a “buy” rating and a $150.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $150.00.

Inhibrx Biosciences Trading Down 0.6%

Shares of Inhibrx Biosciences stock opened at $75.27 on Thursday. Inhibrx Biosciences has a 12-month low of $10.81 and a 12-month high of $94.57. The company has a current ratio of 3.93, a quick ratio of 3.93 and a debt-to-equity ratio of 12.58. The stock has a market cap of $1.10 billion, a PE ratio of -8.33 and a beta of 1.82. The company has a 50-day moving average of $72.94 and a two-hundred day moving average of $69.74.

Inhibrx Biosciences (NASDAQ:INBX) last issued its earnings results on Thursday, March 19th. The company reported ($2.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.08) by ($0.03). On average, research analysts anticipate that Inhibrx Biosciences will post 104.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Perceptive Advisors LLC increased its stake in shares of Inhibrx Biosciences by 9.4% during the 4th quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company’s stock worth $114,764,000 after purchasing an additional 125,000 shares in the last quarter. Morgan Stanley grew its stake in Inhibrx Biosciences by 163.7% in the 4th quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock worth $92,251,000 after acquiring an additional 724,872 shares during the period. Sofinnova Investments Inc. grew its stake in Inhibrx Biosciences by 1.5% in the 2nd quarter. Sofinnova Investments Inc. now owns 708,678 shares of the company’s stock worth $10,113,000 after acquiring an additional 10,762 shares during the period. Vanguard Group Inc. grew its stake in Inhibrx Biosciences by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 623,084 shares of the company’s stock worth $49,224,000 after acquiring an additional 28,166 shares during the period. Finally, Capital Research Global Investors purchased a new stake in Inhibrx Biosciences in the 4th quarter worth approximately $33,304,000. 82.46% of the stock is owned by hedge funds and other institutional investors.

Inhibrx Biosciences Company 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.