Healthcare of Ontario Pension Plan Trust Fund Sells 93,300 Shares of Inhibrx Biosciences, Inc. $INBX

Key Points

• Healthcare of Ontario Pension Plan Trust Fund reduced its Inhibrx Biosciences stake by 35.3%, selling 93,300 shares and retaining 170,700 shares valued at approximately $11.5 million. Institutional investors collectively own 82.46% of the company.
• INBX shares opened at $79.68, well below their 52-week high of $155.29. The company reported a quarterly loss of $2.15 per share, missing analyst expectations of a $1.68 loss.
• Analyst sentiment is mixed, with ratings ranging from Strong Buy to Sell; the stock carries an average “Hold” rating and a consensus price target of $150.

Healthcare of Ontario Pension Plan Trust Fund cut its stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) by 35.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 170,700 shares of the company's stock after selling 93,300 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 1.17% of Inhibrx Biosciences worth $11,476,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Inhibrx Biosciences by 26.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company's stock worth $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 shares of Inhibrx Biosciences by 1.3% in 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 purchasing an additional 299 shares during the period. Persistent Asset Partners Ltd purchased a new position in shares of Inhibrx Biosciences in the 4th quarter valued at approximately $27,000. BNP Paribas Financial Markets boosted its position in shares of 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 in the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Inhibrx Biosciences during the fourth quarter valued at approximately $66,000. 82.46% of the stock is owned by institutional investors.

Inhibrx Biosciences Stock Performance

Shares of INBX opened at $79.68 on Wednesday. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 12.58. The business's 50 day moving average price is $94.21 and its 200-day moving average price is $87.35. Inhibrx Biosciences, Inc. has a 52 week low of $20.55 and a 52 week high of $155.29. The stock has a market cap of $1.17 billion, a P/E ratio of -9.50 and a beta of 3.41.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($2.15) earnings per share for the quarter, missing analysts' consensus estimates of ($1.68) by ($0.47). Equities research analysts anticipate that Inhibrx Biosciences, Inc. will post -10.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INBX. Lifesci Capital raised Inhibrx Biosciences to a "strong-buy" rating in a research note on Friday, April 24th. Stifel Nicolaus began coverage on shares of Inhibrx Biosciences in a report on Wednesday, April 8th. They set a "buy" rating and a $150.00 target price on the stock. Wall Street Zen upgraded shares of Inhibrx Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, July 12th. Zacks Research raised shares of Inhibrx Biosciences to a "hold" rating in a research report on Thursday, April 9th. Finally, Weiss Ratings reiterated 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, one has assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $150.00.

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.

Want to see what other hedge funds are holding INBX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.