Credit Industriel ET Commercial Sells 20,302 Shares of Inhibrx Biosciences, Inc. $INBX

Key Points

• Credit Industriel ET Commercial cut its INBX stake by 70.1%, selling 20,302 shares and ending the quarter with 8,656 shares (about 0.06% of the company) worth $684,000.
• The analyst consensus is a "Hold" with an average target of $150, reflecting mixed views (1 Strong Buy, 1 Buy, 3 Hold, 1 Sell), while Stifel Nicolaus recently initiated coverage with a Buy and a $150 target.
• INBX opened at $128.12, trades in a 52-week range of $10.84–$155.29 with a market cap of $1.87B and a negative P/E (-14.17), and institutional investors own about 82.46% of the stock.

Credit Industriel ET Commercial decreased its position in Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) by 70.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,656 shares of the company's stock after selling 20,302 shares during the period. Credit Industriel ET Commercial owned approximately 0.06% of Inhibrx Biosciences worth $684,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in Inhibrx Biosciences by 26.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company's stock valued at $56,000 after acquiring an additional 147 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Inhibrx Biosciences by 1.3% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 22,883 shares of the company's stock valued at $1,808,000 after acquiring an additional 299 shares during the period. BNP Paribas Financial Markets lifted its stake in Inhibrx Biosciences by 71.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company's stock valued at $64,000 after acquiring an additional 789 shares during the period. Public Employees Retirement System of Ohio bought a new position in Inhibrx Biosciences during the 3rd quarter valued at about $40,000. Finally, Bank of America Corp DE lifted its stake in Inhibrx Biosciences by 19.2% during the 2nd quarter. Bank of America Corp DE now owns 9,130 shares of the company's stock valued at $130,000 after acquiring an additional 1,469 shares during the period. Institutional investors own 82.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INBX. Zacks Research upgraded shares of Inhibrx Biosciences to a "hold" rating in a research note on Thursday, April 9th. Lifesci Capital upgraded shares of Inhibrx Biosciences to a "strong-buy" rating in a research note on Friday, April 24th. Weiss Ratings restated a "sell (d)" rating on shares of Inhibrx Biosciences in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Inhibrx Biosciences from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Stifel Nicolaus began coverage on shares of Inhibrx Biosciences in a research note on Wednesday, April 8th. They set a "buy" rating and a $150.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $150.00.

Inhibrx Biosciences Price Performance

NASDAQ INBX opened at $128.12 on Wednesday. Inhibrx Biosciences, Inc. has a 52 week low of $10.84 and a 52 week high of $155.29. The firm has a market capitalization of $1.87 billion, a P/E ratio of -14.17 and a beta of 3.88. The company has a quick ratio of 3.93, a current ratio of 3.93 and a debt-to-equity ratio of 12.58. The company has a 50-day moving average price of $80.33 and a 200-day moving average price of $77.63.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The company reported ($2.11) EPS for the quarter, missing the consensus estimate of ($2.08) by ($0.03). Equities research analysts anticipate that Inhibrx Biosciences, Inc. will post -11.15 earnings per share for the current year.

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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