Russell Investments Group Ltd. Has $378,000 Stock Position in Inhibrx Biosciences, Inc. $INBX

Key Points

• Russell Investments Group Ltd. has reduced its stake in Inhibrx Biosciences by 50.3%, selling 27,315 shares in the first quarter, leaving it with approximately 27,030 shares valued at $378,000.
• Other institutional investors, including Sanofi and HighTower Advisors LLC, have recently increased their holdings or initiated new stakes in Inhibrx, with institutional investors now owning 82.46% of the company.
• Inhibrx Biosciences reported earnings of ($1.85) per share for the last quarter, surpassing analyst expectations of ($2.92) by $1.07, and collected $1.30 million in revenue during the same period.

Russell Investments Group Ltd. lessened its stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) by 50.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,030 shares of the company's stock after selling 27,315 shares during the period. Russell Investments Group Ltd. owned about 0.19% of Inhibrx Biosciences worth $378,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in INBX. State of Wyoming bought a new stake in shares of Inhibrx Biosciences in the 4th quarter valued at about $83,000. Wells Fargo & Company MN bought a new stake in shares of Inhibrx Biosciences in the 4th quarter valued at about $102,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Inhibrx Biosciences in the 4th quarter valued at about $102,000. JPMorgan Chase & Co. grew its position in shares of Inhibrx Biosciences by 47.8% in the 4th quarter. JPMorgan Chase & Co. now owns 7,592 shares of the company's stock valued at $117,000 after buying an additional 2,457 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new stake in shares of Inhibrx Biosciences in the 4th quarter valued at about $118,000. Institutional investors own 82.46% of the company's stock.

Inhibrx Biosciences Trading Down 0.3%

Shares of Inhibrx Biosciences stock traded down $0.07 on Thursday, hitting $27.73. 23,350 shares of the company's stock traded hands, compared to its average volume of 105,801. The company has a fifty day moving average of $22.29 and a two-hundred day moving average of $16.26. Inhibrx Biosciences, Inc. has a one year low of $10.81 and a one year high of $28.49. 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 company has a market capitalization of $401.67 million, a price-to-earnings ratio of -2.62 and a beta of 0.33.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last posted its quarterly 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 firm had revenue of $1.30 million for the quarter. As a group, sell-side analysts expect that Inhibrx Biosciences, Inc. will post 104.88 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on INBX shares. JMP Securities reiterated a "market perform" rating on shares of Inhibrx Biosciences in a research report on Friday, August 22nd. Wall Street Zen upgraded Inhibrx Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

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.