Acadian Asset Management LLC Boosts Stake 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 boosted its position in Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) by 34.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,498 shares of the company's stock after acquiring 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 filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Deutsche Bank AG purchased a new position in shares of Inhibrx Biosciences in the 4th quarter worth about $302,000. Bluefin Capital Management LLC bought a new stake in Inhibrx Biosciences in the 1st quarter worth approximately $160,000. Millennium Management LLC purchased a new stake in Inhibrx Biosciences in the fourth quarter worth approximately $3,979,000. Alpha Wealth Funds LLC bought a new position in Inhibrx Biosciences during the fourth quarter valued at approximately $1,180,000. Finally, Nuveen Asset Management LLC purchased a new position in shares of Inhibrx Biosciences during the fourth quarter worth approximately $385,000. Hedge funds and other institutional investors own 82.46% of the company's stock.

Wall Street Analyst Weigh In

INBX has been the topic of a number of analyst reports. JMP Securities reiterated a "market perform" rating on shares of Inhibrx Biosciences in a research report on Friday, August 22nd. Wall Street Zen raised Inhibrx Biosciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold".

Inhibrx Biosciences Stock Performance

Shares of INBX stock opened at $27.18 on Tuesday. The firm has a market capitalization of $393.57 million, a price-to-earnings ratio of -2.57 and a beta of 0.31. The stock has a fifty day moving average of $24.30 and a 200 day moving average of $17.17. Inhibrx Biosciences, Inc. has a 52 week low of $10.81 and a 52 week high of $30.23. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 1.45.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported ($1.85) EPS for the quarter, topping the consensus estimate of ($2.92) by $1.07. The company had revenue of $1.30 million during the quarter. As a group, research analysts expect that Inhibrx Biosciences, Inc. will post 104.88 earnings per share for the current year.

Inhibrx Biosciences Company 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.

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