Goldman Sachs Group Inc. Sells 40,282 Shares of Inhibrx Biosciences, Inc. $INBX

Key Points

• Goldman Sachs Group Inc. significantly reduced its stake in Inhibrx Biosciences by 70.1%, selling 40,282 shares and owning only 17,165 shares now, valued at approximately $240,000.
• Other institutional investors, such as HighTower Advisors LLC and Acadian Asset Management LLC, have increased their positions, indicating ongoing interest in Inhibrx Biosciences.
• Inhibrx reported earnings of ($1.85) per share, outperforming analyst expectations, and analysts anticipate a notable growth with a projection of 104.88 earnings per share for the year.

Goldman Sachs Group Inc. reduced its position in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) by 70.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,165 shares of the company's stock after selling 40,282 shares during the quarter. Goldman Sachs Group Inc. owned about 0.12% of Inhibrx Biosciences worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. HighTower Advisors LLC increased its stake in shares of Inhibrx Biosciences by 11.5% during the first quarter. HighTower Advisors LLC now owns 871,754 shares of the company's stock valued at $12,196,000 after buying an additional 90,002 shares during the period. Woodline Partners LP bought a new position in Inhibrx Biosciences during the 1st quarter worth about $5,015,000. Acadian Asset Management LLC increased its position in Inhibrx Biosciences by 34.2% during the 1st quarter. Acadian Asset Management LLC now owns 192,498 shares of the company's stock valued at $2,689,000 after purchasing an additional 49,023 shares during the period. Groupe la Francaise bought a new stake in shares of Inhibrx Biosciences in the 1st quarter valued at about $1,062,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Inhibrx Biosciences by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 52,800 shares of the company's stock worth $739,000 after purchasing an additional 1,355 shares during the period. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INBX has been the topic of several research reports. JMP Securities reissued a "market perform" rating on shares of Inhibrx Biosciences in a report on Friday, August 22nd. Wall Street Zen upgraded Inhibrx Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold".

Inhibrx Biosciences Stock Performance

Shares of INBX stock opened at $32.68 on Monday. Inhibrx Biosciences, Inc. has a 12-month low of $10.81 and a 12-month high of $33.63. The business's fifty day simple moving average is $25.43 and its 200-day simple moving average is $18.11. The company has a current ratio of 4.98, a quick ratio of 4.98 and a debt-to-equity ratio of 1.45. The company has a market cap of $473.21 million, a PE ratio of -3.09 and a beta of 0.31.

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