Alpha Wealth Funds LLC Cuts Position in Inhibrx, Inc. (NASDAQ:INBX)

Alpha Wealth Funds LLC cut its stake in Inhibrx, Inc. (NASDAQ:INBX - Free Report) by 50.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,647 shares of the company's stock after selling 39,286 shares during the period. Inhibrx accounts for about 0.5% of Alpha Wealth Funds LLC's portfolio, making the stock its 25th largest position. Alpha Wealth Funds LLC owned about 0.27% of Inhibrx worth $541,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in INBX. GAMMA Investing LLC raised its holdings in shares of Inhibrx by 9,834.8% during the first quarter. GAMMA Investing LLC now owns 6,855 shares of the company's stock worth $960,000 after purchasing an additional 6,786 shares during the last quarter. State of Wyoming acquired a new stake in Inhibrx in the 4th quarter valued at $83,000. Sanofi purchased a new position in Inhibrx during the fourth quarter valued at $17,832,000. Nuveen Asset Management LLC purchased a new stake in shares of Inhibrx during the fourth quarter worth about $385,000. Finally, Millennium Management LLC acquired a new position in shares of Inhibrx during the 4th quarter worth about $3,979,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Inhibrx Trading Down 0.8%

Inhibrx stock traded down $0.11 during midday trading on Thursday, hitting $12.89. 54,393 shares of the stock were exchanged, compared to its average volume of 114,040. The stock's 50-day simple moving average is $12.33 and its 200 day simple moving average is $13.43. Inhibrx, Inc. has a fifty-two week low of $10.80 and a fifty-two week high of $18.95. The stock has a market capitalization of $186.60 million and a price-to-earnings ratio of 0.11.

Inhibrx (NASDAQ:INBX - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($2.80) EPS for the quarter, missing analysts' consensus estimates of ($2.55) by ($0.25). Equities analysts anticipate that Inhibrx, Inc. will post 104.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JMP Securities reissued a "market perform" rating on shares of Inhibrx in a research note on Thursday, May 15th.

About Inhibrx

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.