Swiss National Bank Invests $968,000 in Inhibrx Biosciences, Inc. $INBX

Key Points

• Swiss National Bank bought 14,400 shares of Inhibrx Biosciences in the first quarter, valued at approximately $968,000. Institutional investors collectively own 82.46% of the company.
• Inhibrx shares opened at $82.05, down 3.2%, and remain well below their 52-week high of $155.29. The company reported a quarterly loss of $2.15 per share, missing analyst expectations of a $1.68 loss.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $150.00; ratings range from Strong Buy to Sell.

Swiss National Bank purchased a new stake in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,400 shares of the company's stock, valued at approximately $968,000. Swiss National Bank owned approximately 0.10% of Inhibrx Biosciences at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Moran Wealth Management LLC purchased a new position in shares of Inhibrx Biosciences in the 1st quarter worth about $213,000. Janney Montgomery Scott LLC grew its position in Inhibrx Biosciences by 16.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,406 shares of the company's stock valued at $431,000 after purchasing an additional 911 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in Inhibrx Biosciences during the 4th quarter valued at about $1,615,000. Invesco Ltd. increased its stake in Inhibrx Biosciences by 539.6% during the 4th quarter. Invesco Ltd. now owns 112,396 shares of the company's stock valued at $8,879,000 after purchasing an additional 94,822 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Inhibrx Biosciences during the 4th quarter valued at about $713,000. 82.46% of the stock is currently owned by institutional investors.

Inhibrx Biosciences Trading Down 3.2%

Inhibrx Biosciences stock opened at $82.05 on Friday. Inhibrx Biosciences, Inc. has a one year low of $20.55 and a one year high of $155.29. The business's fifty day moving average is $92.70 and its 200 day moving average is $87.42. The stock has a market capitalization of $1.20 billion, a PE ratio of -9.78 and a beta of 3.41. The company has a debt-to-equity ratio of 12.58, a current ratio of 6.46 and a quick ratio of 6.46.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($2.15) earnings per share for the quarter, missing analysts' consensus estimates of ($1.68) by ($0.47). On average, sell-side analysts predict that Inhibrx Biosciences, Inc. will post -10.15 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Stifel Nicolaus began coverage on shares of Inhibrx Biosciences in a report on Wednesday, April 8th. They issued a "buy" rating and a $150.00 target price for the company. Zacks Research upgraded shares of Inhibrx Biosciences to a "hold" rating in a report on Thursday, April 9th. Weiss Ratings reissued a "sell (d-)" rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Lifesci Capital upgraded shares of Inhibrx Biosciences to a "strong-buy" rating in a report on Friday, April 24th. Finally, Wall Street Zen cut Inhibrx Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $150.00.

About Inhibrx Biosciences

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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