Bank of New York Mellon Corp Takes Position in Inhibrx Biosciences, Inc. $INBX

Key Points

• Bank of New York Mellon purchased 26,200 shares of Inhibrx Biosciences worth approximately $2.48 million, representing about 0.18% of the company. Institutional investors collectively own 82.46% of INBX.
• Analyst sentiment is mixed: ratings range from “strong sell” and “sell” to “buy,” while MarketBeat reports an overall “Moderate Buy” rating and an average price target of $197.50.
• INBX opened at $121.17, well above its 52-week low of $26.19 but below its $155.29 high. The company also reported a quarterly loss of $2.34 per share, missing consensus estimates by $0.06.

Bank of New York Mellon Corp purchased a new stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,200 shares of the company's stock, valued at approximately $2,482,000. Bank of New York Mellon Corp owned approximately 0.18% of Inhibrx Biosciences at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Persistent Asset Partners Ltd purchased a new position in Inhibrx Biosciences in the fourth quarter worth $27,000. Daiwa Securities Group Inc. purchased a new position in shares of Inhibrx Biosciences in the 4th quarter valued at about $66,000. Public Employees Retirement System of Ohio purchased a new position in shares of Inhibrx Biosciences in the 3rd quarter valued at about $40,000. State of Wyoming acquired a new stake in shares of Inhibrx Biosciences in the second quarter valued at about $116,000. Finally, Diadema Partners LP acquired a new stake in shares of Inhibrx Biosciences in the fourth quarter valued at about $103,000. Institutional investors and hedge funds own 82.46% of the company's stock.

Analyst Upgrades and Downgrades

INBX has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a research report on Monday, August 17th. Citigroup reiterated a "market perform" rating on shares of Inhibrx Biosciences in a research report on Thursday, August 27th. HC Wainwright assumed coverage on Inhibrx Biosciences in a research note on Monday, August 24th. They set a "buy" rating and a $245.00 price target on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Inhibrx Biosciences currently has an average rating of "Moderate Buy" and an average target price of $197.50.

Inhibrx Biosciences Stock Performance

NASDAQ:INBX opened at $121.17 on Tuesday. Inhibrx Biosciences, Inc. has a 52-week low of $26.19 and a 52-week high of $155.29. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 12.58. The stock has a fifty day simple moving average of $97.77 and a 200-day simple moving average of $92.51. The company has a market capitalization of $1.78 billion, a PE ratio of -13.65 and a beta of 3.66.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing analysts' consensus estimates of ($2.28) by ($0.06). On average, equities research analysts expect that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current fiscal year.

Inhibrx Biosciences Company 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.

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