Acadian Asset Management LLC Has $2.69 Million Position in Inhibrx Biosciences, Inc. $INBX

Key Points

• Acadian Asset Management LLC increased its stake in Inhibrx Biosciences by 34.2%, owning 192,498 shares valued at approximately $2.69 million after acquiring an additional 49,023 shares in Q1.
• Analyst ratings include a "Hold" rating from JMP Securities and a recent upgrade from "Sell" to "Hold" by Wall Street Zen, with an average rating of "Hold" for the stock.
• Inhibrx Biosciences reported earnings of ($1.85) per share for the last quarter, outperforming the consensus estimate of ($2.92) by $1.07, with revenue of $1.30 million.

Acadian Asset Management LLC grew its holdings in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) by 34.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 192,498 shares of the company's stock after buying an additional 49,023 shares during the quarter. Acadian Asset Management LLC owned 1.33% of Inhibrx Biosciences worth $2,689,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bluefin Capital Management LLC purchased a new position in shares of Inhibrx Biosciences during the 1st quarter valued at approximately $160,000. Woodline Partners LP bought a new position in Inhibrx Biosciences during the first quarter worth $5,015,000. Groupe la Francaise bought a new position in Inhibrx Biosciences during the first quarter worth $1,062,000. HighTower Advisors LLC lifted its stake in Inhibrx Biosciences by 11.5% during the first quarter. HighTower Advisors LLC now owns 871,754 shares of the company's stock worth $12,196,000 after purchasing an additional 90,002 shares during the last quarter. Finally, Nuveen LLC bought a new position in Inhibrx Biosciences during the first quarter worth $350,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen raised Inhibrx Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. JMP Securities reaffirmed a "market perform" rating on shares of Inhibrx Biosciences in a research report on Friday, August 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Inhibrx Biosciences currently has an average rating of "Hold".

Inhibrx Biosciences Price Performance

NASDAQ:INBX traded up $0.95 during mid-day trading on Friday, reaching $27.60. 426,124 shares of the stock were exchanged, compared to its average volume of 103,143. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 1.45. Inhibrx Biosciences, Inc. has a 1-year low of $10.81 and a 1-year high of $30.23. The firm has a market capitalization of $399.65 million, a PE ratio of -2.61 and a beta of 0.33. The business has a fifty day moving average price of $24.78 and a 200 day moving average price of $17.48.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The company reported ($1.85) EPS for the quarter, topping analysts' consensus estimates of ($2.92) by $1.07. The business had revenue of $1.30 million for the quarter. Research analysts expect that Inhibrx Biosciences, Inc. will post 104.88 earnings per share for the current fiscal year.

Inhibrx Biosciences Profile

Inhibrx, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidate includes INBRX-101, an alpha-1 antitrypsin (AAT)-Fc fusion protein therapeutic candidate, which is in Phase 1 clinical trials for use in the treatment of patients with AAT deficiency.