Inhibrx Biosciences, Inc. $INBX Shares Sold by Credit Industriel ET Commercial

Credit Industriel ET Commercial reduced its position in Inhibrx Biosciences, Inc. (NASDAQ:INBX) by 54.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,958 shares of the company’s stock after selling 35,259 shares during the period. Credit Industriel ET Commercial owned about 0.20% of Inhibrx Biosciences worth $975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in Inhibrx Biosciences by 19.2% in the second quarter. Bank of America Corp DE now owns 9,130 shares of the company’s stock valued at $130,000 after buying an additional 1,469 shares in the last quarter. Strs Ohio acquired a new stake in shares of Inhibrx Biosciences during the 1st quarter valued at about $27,000. Russell Investments Group Ltd. increased its stake in shares of Inhibrx Biosciences by 11.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 29,993 shares of the company’s stock valued at $428,000 after purchasing an additional 2,963 shares in the last quarter. Sofinnova Investments Inc. increased its stake in shares of Inhibrx Biosciences by 1.5% in the 2nd quarter. Sofinnova Investments Inc. now owns 708,678 shares of the company’s stock valued at $10,113,000 after purchasing an additional 10,762 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in Inhibrx Biosciences by 7.5% in the 2nd quarter. Kennedy Capital Management LLC now owns 177,318 shares of the company’s stock worth $2,530,000 after purchasing an additional 12,342 shares during the period. 82.46% of the stock is owned by hedge funds and other institutional investors.

Inhibrx Biosciences Stock Down 7.7%

Shares of INBX opened at $75.80 on Monday. The stock has a 50 day moving average price of $78.99 and a 200 day moving average price of $57.34. Inhibrx Biosciences, Inc. has a one year low of $10.81 and a one year high of $94.57. The company has a debt-to-equity ratio of 2.71, a quick ratio of 4.49 and a current ratio of 4.49. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -7.56 and a beta of 1.36.

Inhibrx Biosciences (NASDAQ:INBX) last announced its earnings results on Thursday, November 13th. The company reported ($2.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.94) by $0.66. Equities research analysts forecast that Inhibrx Biosciences, Inc. will post 104.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Inhibrx Biosciences in a report on Thursday, January 22nd. Citigroup reissued a “market perform” rating on shares of Inhibrx Biosciences in a research note on Wednesday, November 19th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s 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.