Corient Private Wealth LP Makes New $2.71 Million Investment in Inhibrx Biosciences, Inc. $INBX

Key Points

• Corient Private Wealth LP purchased 28,653 shares of Inhibrx Biosciences worth approximately $2.71 million, representing a 0.20% stake. Institutional investors collectively own 82.46% of the company.
• INBX was trading at $124.66, with a market capitalization of about $1.83 billion, but reported a quarterly loss of $2.34 per share, missing analysts’ estimates by $0.06.
• Analyst opinions remain mixed, though the stock has a consensus “Moderate Buy” rating and a $197.50 average price target, well above its current price.

Corient Private Wealth LP bought a new stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 28,653 shares of the company's stock, valued at approximately $2,715,000. Corient Private Wealth LP owned 0.20% of Inhibrx Biosciences at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in INBX. Persistent Asset Partners Ltd bought a new position in shares of Inhibrx Biosciences during the 4th quarter worth $27,000. Strs Ohio bought a new stake in Inhibrx Biosciences in the 1st quarter valued at about $27,000. Public Employees Retirement System of Ohio bought a new stake in Inhibrx Biosciences in the 3rd quarter valued at about $40,000. BNP Paribas Financial Markets lifted its holdings in Inhibrx Biosciences by 71.9% during the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company's stock valued at $64,000 after purchasing an additional 789 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in Inhibrx Biosciences during the fourth quarter valued at about $66,000. Hedge funds and other institutional investors own 82.46% of the company's stock.

Inhibrx Biosciences Price Performance

INBX stock opened at $124.66 on Wednesday. The firm has a 50 day moving average of $95.60 and a 200-day moving average of $91.26. The firm has a market capitalization of $1.83 billion, a P/E ratio of -14.04 and a beta of 3.65. Inhibrx Biosciences, Inc. has a 12 month low of $26.19 and a 12 month high of $155.29. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 12.58.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share for the quarter, missing analysts' consensus estimates of ($2.28) by ($0.06). As a group, sell-side analysts predict that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INBX. HC Wainwright assumed coverage on shares of Inhibrx Biosciences in a research note on Monday, August 24th. They issued a "buy" rating and a $245.00 target price for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. Wall Street Zen lowered shares of Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a research note on Monday, August 17th. Finally, Citigroup reissued a "market perform" rating on shares of Inhibrx Biosciences in a report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $197.50.

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.

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