SG Americas Securities LLC Invests $1.27 Million in Inhibrx Biosciences, Inc. $INBX

SG Americas Securities LLC acquired a new position in Inhibrx Biosciences, Inc. (NASDAQ:INBX) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,088 shares of the company’s stock, valued at approximately $1,271,000. SG Americas Securities LLC owned approximately 0.11% of Inhibrx Biosciences at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. 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 worth $10,113,000 after purchasing an additional 10,762 shares in the last quarter. Millennium Management LLC increased its stake in shares of Inhibrx Biosciences by 8.0% in the 3rd quarter. Millennium Management LLC now owns 297,820 shares of the company’s stock worth $10,031,000 after purchasing an additional 22,042 shares in the last quarter. Caligan Partners LP purchased a new stake in shares of Inhibrx Biosciences in the 3rd quarter worth $7,961,000. Readystate Asset Management LP increased its stake in shares of Inhibrx Biosciences by 534.1% in the 3rd quarter. Readystate Asset Management LP now owns 170,158 shares of the company’s stock worth $5,731,000 after purchasing an additional 143,324 shares in the last quarter. Finally, Boothbay Fund Management LLC increased its stake in shares of Inhibrx Biosciences by 179.2% in the 3rd quarter. Boothbay Fund Management LLC now owns 78,812 shares of the company’s stock worth $2,654,000 after purchasing an additional 50,582 shares in the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Inhibrx Biosciences in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

Inhibrx Biosciences Trading Down 2.2%

Shares of Inhibrx Biosciences stock opened at $62.35 on Wednesday. The company has a market capitalization of $910.93 million, a P/E ratio of -6.90 and a beta of 1.82. The company has a debt-to-equity ratio of 12.58, a quick ratio of 3.93 and a current ratio of 3.93. The company has a fifty day moving average of $73.04 and a 200 day moving average of $69.09. Inhibrx Biosciences, Inc. has a fifty-two week low of $10.81 and a fifty-two week high of $94.57.

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

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.