Slotnik Capital LLC Cuts Stake in Inhibrx Biosciences, Inc. $INBX

Key Points

• Slotnik Capital LLC reduced its stake in Inhibrx Biosciences by 26.0%, selling 101,038 shares to hold 286,962 shares, making it the firm's 11th largest position.
• Inhibrx reported a quarterly EPS of ($1.85), surpassing analyst expectations of ($2.92), and had revenues of $1.30 million for the quarter.
• Currently, 82.46% of Inhibrx Biosciences' stock is owned by institutional investors and hedge funds, indicating significant institutional interest.

Slotnik Capital LLC trimmed its position in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) by 26.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 286,962 shares of the company's stock after selling 101,038 shares during the quarter. Inhibrx Biosciences accounts for approximately 1.9% of Slotnik Capital LLC's portfolio, making the stock its 11th largest holding. Slotnik Capital LLC owned about 1.98% of Inhibrx Biosciences worth $4,015,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Sanofi purchased a new position in Inhibrx Biosciences during the 4th quarter worth $17,832,000. HighTower Advisors LLC boosted its holdings in Inhibrx Biosciences by 11.5% during the 1st quarter. HighTower Advisors LLC now owns 871,754 shares of the company's stock worth $12,196,000 after acquiring an additional 90,002 shares during the last quarter. Woodline Partners LP purchased a new position in Inhibrx Biosciences during the 1st quarter worth $5,015,000. Millennium Management LLC purchased a new position in Inhibrx Biosciences during the 4th quarter worth $3,979,000. Finally, Northern Trust Corp purchased a new position in Inhibrx Biosciences during the 4th quarter worth $1,788,000. 82.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INBX has been the topic of a number of research analyst reports. JMP Securities reissued a "market perform" rating on shares of Inhibrx Biosciences in a report on Friday, August 22nd. Wall Street Zen raised shares of Inhibrx Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".

Inhibrx Biosciences Stock Performance

Inhibrx Biosciences stock traded down $0.93 during midday trading on Friday, reaching $27.52. The stock had a trading volume of 111,551 shares, compared to its average volume of 107,613. Inhibrx Biosciences, Inc. has a 12 month low of $10.81 and a 12 month high of $30.23. The firm's 50-day moving average price is $24.12 and its 200 day moving average price is $17.04. The firm has a market capitalization of $398.63 million, a PE ratio of -2.60 and a beta of 0.33. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 1.45.

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