HighTower Advisors LLC Acquires 90,002 Shares of 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 boosted its holdings in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) by 11.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.

A number of other hedge funds also recently bought and sold shares of INBX. Sanofi purchased a new stake in Inhibrx Biosciences during the fourth quarter valued at $17,832,000. Millennium Management LLC purchased a new stake in Inhibrx Biosciences during the fourth quarter valued at $3,979,000. Geode Capital Management LLC purchased a new stake in shares of Inhibrx Biosciences in the fourth quarter valued at $3,930,000. Caption Management LLC purchased a new stake in shares of Inhibrx Biosciences in the fourth quarter valued at $3,078,000. Finally, Castalian Partners LLC purchased a new stake in shares of Inhibrx Biosciences in the fourth quarter valued at $2,950,000. Hedge funds and other institutional investors own 82.46% of the company's stock.

Inhibrx Biosciences Trading Down 2.1%

Shares of NASDAQ INBX traded down $0.52 during mid-day trading on Thursday, reaching $23.89. The company had a trading volume of 92,811 shares, compared to its average volume of 105,314. The business's 50-day moving average is $19.90 and its 200-day moving average is $15.31. 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 stock has a market cap of $345.93 million, a price-to-earnings ratio of -2.26 and a beta of 0.24. Inhibrx Biosciences, Inc. has a 52 week low of $10.81 and a 52 week high of $25.29.

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

Wall Street Analyst Weigh In

INBX has been the topic of several recent analyst reports. JMP Securities reissued a "market perform" rating on shares of Inhibrx Biosciences in a research note on Thursday, May 15th. Wall Street Zen raised shares of Inhibrx Biosciences from a "sell" rating to a "hold" rating in a research note on Sunday. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

About Inhibrx Biosciences

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.