Nuveen LLC Buys New Shares 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 Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,021 shares of the company's stock, valued at approximately $350,000. Nuveen LLC owned 0.17% of Inhibrx Biosciences as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of INBX. Sanofi acquired a new position in Inhibrx Biosciences in the fourth quarter valued at $17,832,000. Millennium Management LLC acquired a new position in Inhibrx Biosciences in the fourth quarter valued at $3,979,000. Northern Trust Corp acquired a new position in Inhibrx Biosciences in the fourth quarter valued at $1,788,000. Jane Street Group LLC acquired a new position in Inhibrx Biosciences in the fourth quarter valued at $1,362,000. Finally, Alpha Wealth Funds LLC acquired a new position in Inhibrx Biosciences in the fourth quarter valued at $1,180,000. Institutional investors and hedge funds own 82.46% of the company's stock.

Analyst Ratings Changes

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

Inhibrx Biosciences Trading Up 1.7%

NASDAQ:INBX opened at $28.18 on Friday. The company has a debt-to-equity ratio of 1.45, a current ratio of 4.98 and a quick ratio of 4.98. The firm has a 50-day moving average of $22.82 and a 200-day moving average of $16.46. The company has a market cap of $408.05 million, a PE ratio of -2.66 and a beta of 0.33. Inhibrx Biosciences, Inc. has a one year low of $10.81 and a one year high of $28.73.

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

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.

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