HighTower Advisors LLC Has $12.20 Million Stake in Inhibrx Biosciences, Inc. $INBX

Key Points

• HighTower Advisors LLC acquired an additional 90,002 shares of Inhibrx Biosciences, increasing its holdings by 11.5% to approximately 871,754 shares, valued at about $12.2 million.
• Inhibrx reported a quarterly earnings per share of ($1.85), exceeding analyst expectations by $1.07, with total revenue of $1.30 million for the quarter.
• As of now, 82.46% of Inhibrx's stock is owned by institutional investors, indicating strong institutional support for the company.

HighTower Advisors LLC grew its position in Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) by 11.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 871,754 shares of the company's stock after purchasing an additional 90,002 shares during the quarter. HighTower Advisors LLC owned about 6.02% of Inhibrx Biosciences worth $12,196,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis acquired a new position in shares of Inhibrx Biosciences in the fourth quarter valued at approximately $31,000. State of Wyoming bought a new stake in shares of Inhibrx Biosciences in the fourth quarter valued at approximately $83,000. Wells Fargo & Company MN bought a new stake in shares of Inhibrx Biosciences in the fourth quarter valued at approximately $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Inhibrx Biosciences in the fourth quarter valued at approximately $102,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Inhibrx Biosciences by 47.8% in the fourth quarter. JPMorgan Chase & Co. now owns 7,592 shares of the company's stock valued at $117,000 after buying an additional 2,457 shares during the period. Institutional investors and hedge funds own 82.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wall Street Zen upgraded Inhibrx Biosciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. JMP Securities restated a "market perform" rating on shares of Inhibrx Biosciences in a research note on Friday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Inhibrx Biosciences presently has an average rating of "Hold".

Inhibrx Biosciences Price Performance

Shares of INBX traded up $0.83 during trading hours on Friday, reaching $24.99. The stock had a trading volume of 62,817 shares, compared to its average volume of 105,295. Inhibrx Biosciences, Inc. has a 12 month low of $10.81 and a 12 month high of $25.61. The stock has a market capitalization of $361.86 million, a PE ratio of -2.36 and a beta of 0.24. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.98 and a current ratio of 4.98. The company's 50-day moving average is $20.10 and its two-hundred day moving average is $15.39.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($1.85) EPS for the quarter, beating analysts' consensus estimates of ($2.92) by $1.07. The firm had revenue of $1.30 million during the quarter. Research analysts expect that Inhibrx Biosciences, Inc. will post 104.88 EPS for the current year.

Inhibrx Biosciences 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.