Nuveen LLC Invests $350,000 in Inhibrx Biosciences, Inc. $INBX

Key Points

• Nuveen LLC acquired a new stake in Inhibrx Biosciences during the first quarter, purchasing 25,021 shares valued at approximately $350,000, representing a 0.17% ownership in the company.
• Multiple institutional investors, including Sanofi and Millennium Management LLC, have recently established new positions in Inhibrx, boosting institutional ownership to 82.46% of the company's stock.
• Inhibrx Biosciences reported a quarterly earnings per share of ($1.85), which exceeded analysts' expectations, and has a projected EPS of 104.88 for the current fiscal year.

Nuveen LLC bought a new stake in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,021 shares of the company's stock, valued at approximately $350,000. Nuveen LLC owned about 0.17% of Inhibrx Biosciences at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Sanofi acquired a new position in shares of Inhibrx Biosciences during the fourth quarter valued at approximately $17,832,000. Millennium Management LLC acquired a new position in shares of Inhibrx Biosciences during the fourth quarter valued at approximately $3,979,000. Northern Trust Corp acquired a new position in shares of Inhibrx Biosciences during the fourth quarter valued at approximately $1,788,000. Jane Street Group LLC acquired a new position in shares of Inhibrx Biosciences during the fourth quarter valued at approximately $1,362,000. Finally, Alpha Wealth Funds LLC acquired a new position in shares of Inhibrx Biosciences during the fourth quarter valued at approximately $1,180,000. Institutional investors and hedge funds own 82.46% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Wall Street Zen raised Inhibrx Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. JMP Securities reaffirmed a "market perform" rating on shares of Inhibrx Biosciences in a report on Friday, August 22nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

Inhibrx Biosciences Trading Up 2.9%

Inhibrx Biosciences stock traded up $0.80 during mid-day trading on Thursday, hitting $28.45. The company's stock had a trading volume of 95,408 shares, compared to its average volume of 112,357. The firm has a market capitalization of $411.96 million, a PE ratio of -2.69 and a beta of 0.33. Inhibrx Biosciences, Inc. has a 1 year low of $10.81 and a 1 year high of $30.23. 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's fifty day moving average is $23.90 and its two-hundred day moving average is $16.90.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($1.85) earnings per share for the quarter, topping the consensus estimate of ($2.92) by $1.07. The business had revenue of $1.30 million during the quarter. On average, analysts anticipate 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.