UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.90 Million Holdings in Inhibrx Biosciences, Inc. $INBX

Key Points

• UBS Asset Management increased its Inhibrx Biosciences stake by 29,850.7% in the second quarter, holding 20,067 shares valued at approximately $1.90 million. Institutional investors and hedge funds collectively own 82.46% of INBX.
• Analyst sentiment is mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $197.50. Ratings range from Strong Buy to Strong Sell.
• Company insiders purchased 32,500 shares worth about $3.50 million in the last quarter, while INBX recently traded at $109.27 after reporting a quarterly loss of $2.34 per share, below estimates.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) by 29,850.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,067 shares of the company's stock after buying an additional 20,000 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.14% of Inhibrx Biosciences worth $1,901,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in INBX. Persistent Asset Partners Ltd bought a new stake in Inhibrx Biosciences during the fourth quarter worth $27,000. Strs Ohio acquired a new stake in Inhibrx Biosciences in the first quarter valued at $27,000. Public Employees Retirement System of Ohio bought a new position in shares of Inhibrx Biosciences in the 3rd quarter valued at about $40,000. BNP Paribas Financial Markets grew its position in shares of Inhibrx Biosciences by 71.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company's stock valued at $64,000 after acquiring an additional 789 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in shares of Inhibrx Biosciences in the 4th quarter valued at about $66,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INBX has been the topic of a number of research analyst reports. Citigroup reaffirmed a "market perform" rating on shares of Inhibrx Biosciences in a report on Thursday, August 27th. HC Wainwright started coverage on Inhibrx Biosciences in a report on Monday, August 24th. They set a "buy" rating and a $245.00 price target for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Finally, Wall Street Zen lowered Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $197.50.

Insider Activity at Inhibrx Biosciences

In related news, CEO Mark Lappe purchased 25,000 shares of the stock in a transaction on Tuesday, September 8th. The shares were purchased at an average cost of $105.82 per share, with a total value of $2,645,500.00. Following the acquisition, the chief executive officer directly owned 730,548 shares in the company, valued at $77,306,589.36. The trade was a 3.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Douglas Forsyth acquired 2,500 shares of the business's stock in a transaction on Tuesday, September 8th. The shares were bought at an average price of $114.65 per share, with a total value of $286,625.00. Following the completion of the transaction, the director directly owned 227,064 shares of the company's stock, valued at approximately $26,032,887.60. The trade was a 1.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 32,500 shares of company stock worth $3,499,725 in the last quarter. Corporate insiders own 18.26% of the company's stock.

Inhibrx Biosciences Trading Down 1.9%

INBX stock opened at $109.27 on Friday. Inhibrx Biosciences, Inc. has a one year low of $26.19 and a one year high of $155.29. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -12.31 and a beta of 3.66. The company has a fifty day moving average price of $99.03 and a two-hundred day moving average price of $93.31. The company has a debt-to-equity ratio of 12.58, a current ratio of 5.07 and a quick ratio of 5.07.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($2.34) earnings per share for the quarter, missing the consensus estimate of ($2.28) by ($0.06). Equities analysts anticipate that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current year.

Inhibrx Biosciences Profile

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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