256,950 Shares in Inhibrx Biosciences, Inc. $INBX Purchased by Parkman Healthcare Partners LLC

Key Points

• Parkman Healthcare Partners purchased 256,950 Inhibrx Biosciences shares valued at approximately $24.3 million, giving it a 1.75% stake and making INBX its 10th-largest portfolio holding.
• Institutional ownership is substantial at 82.46%, with BlackRock, Morgan Stanley, Capital Research Global Investors and other major investors also building positions.
• Analyst sentiment is mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $197.50; however, Inhibrx recently missed quarterly EPS expectations and analysts project a full-year loss.

Parkman Healthcare Partners LLC acquired a new position in Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 256,950 shares of the company's stock, valued at approximately $24,346,000. Inhibrx Biosciences comprises approximately 2.5% of Parkman Healthcare Partners LLC's investment portfolio, making the stock its 10th largest position. Parkman Healthcare Partners LLC owned 1.75% of Inhibrx Biosciences as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Inhibrx Biosciences in the 2nd quarter valued at $78,261,000. Morgan Stanley lifted its stake in shares of Inhibrx Biosciences by 163.7% during the fourth quarter. Morgan Stanley now owns 1,167,728 shares of the company's stock valued at $92,251,000 after acquiring an additional 724,872 shares during the period. Capital Research Global Investors acquired a new position in shares of Inhibrx Biosciences during the fourth quarter valued at $33,304,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Inhibrx Biosciences in the fourth quarter valued at about $20,856,000. Finally, Caligan Partners LP bought a new position in Inhibrx Biosciences in the third quarter valued at about $7,961,000. Institutional investors and hedge funds own 82.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on INBX. Wall Street Zen lowered Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a research report on Monday, August 17th. HC Wainwright initiated coverage on shares of Inhibrx Biosciences in a research report on Monday. They set a "buy" rating and a $245.00 target price on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $197.50.

Inhibrx Biosciences Stock Performance

Shares of Inhibrx Biosciences stock opened at $104.94 on Tuesday. The firm has a fifty day moving average of $91.85 and a two-hundred day moving average of $89.52. The company has a debt-to-equity ratio of 12.58, a quick ratio of 5.07 and a current ratio of 5.07. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -11.82 and a beta of 3.51. Inhibrx Biosciences, Inc. has a 52 week low of $24.27 and a 52 week high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.28) by ($0.06). As a group, equities research analysts predict that Inhibrx Biosciences, Inc. will post -10.88 EPS for the current year.

About Inhibrx Biosciences

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.

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