Nicholas Investment Partners LP Invests $2.03 Million in Inhibrx Biosciences, Inc. $INBX

Key Points

• Nicholas Investment Partners LP initiated a $2.03 million position in Inhibrx Biosciences, purchasing 21,443 shares, while institutional investors collectively own 82.46% of the company.
• Analyst sentiment is mixed but leans positive: HC Wainwright issued a Buy rating with a $245 price target, while other firms maintained or downgraded their ratings. The consensus rating is “Moderate Buy,” with a $197.50 target price.
• Inhibrx reported quarterly EPS of negative $2.34, missing estimates by $0.06. The clinical-stage biotechnology company is developing protein therapeutics, including its lead candidate INBRX-109.

Nicholas Investment Partners LP bought a new position in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 21,443 shares of the company's stock, valued at approximately $2,032,000. Nicholas Investment Partners LP owned 0.15% of Inhibrx Biosciences as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Persistent Asset Partners Ltd bought a new stake in shares of Inhibrx Biosciences during the fourth quarter worth $27,000. Strs Ohio bought a new stake in Inhibrx Biosciences in the 1st quarter valued at $27,000. Public Employees Retirement System of Ohio bought a new stake in Inhibrx Biosciences in the 3rd quarter valued at $40,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Inhibrx Biosciences by 26.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company's stock worth $56,000 after purchasing an additional 147 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Inhibrx Biosciences by 71.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company's stock worth $64,000 after purchasing an additional 789 shares in the last quarter. Institutional investors own 82.46% of the company's stock.

Analyst Ratings Changes

INBX has been the subject of several recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. HC Wainwright initiated coverage on shares of Inhibrx Biosciences in a research note on Monday. They set a "buy" rating and a $245.00 price target for the company. Finally, Wall Street Zen downgraded shares of Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Inhibrx Biosciences currently has an average rating of "Moderate Buy" and a consensus target price of $197.50.

Inhibrx Biosciences Price Performance

Shares of NASDAQ INBX opened at $104.94 on Tuesday. The company has a debt-to-equity ratio of 12.58, a current ratio of 5.07 and a quick ratio of 5.07. The business has a 50-day moving average of $91.85 and a 200-day moving average of $89.52. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -11.82 and a beta of 3.51. Inhibrx Biosciences, Inc. has a fifty-two week low of $24.27 and a fifty-two week high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.28) by ($0.06). As a group, sell-side analysts predict that Inhibrx Biosciences, Inc. will post -10.88 earnings per share for the current fiscal year.

Inhibrx Biosciences Company 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.

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