Woodline Partners LP Makes New Investment in Inhibrx Biosciences, Inc. $INBX

Key Points

• Woodline Partners LP purchased approximately 358,436 shares of Inhibrx Biosciences worth around $5 million, increasing its stake to 2.48% as of the latest SEC filing.
• Inhibrx reported a loss of $1.85 per share for the recent quarter, which was an improvement over analysts' expectations of a loss of $2.92.
• The stock has experienced significant institutional interest, with 82.46% of its shares now held by institutional investors and hedge funds.

Woodline Partners LP acquired a new stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 358,436 shares of the company's stock, valued at approximately $5,015,000. Woodline Partners LP owned 2.48% of Inhibrx Biosciences at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its stake in shares of Inhibrx Biosciences by 2.6% in the 1st quarter. Bank of New York Mellon Corp now owns 52,800 shares of the company's stock valued at $739,000 after purchasing an additional 1,355 shares during the period. State of Wyoming bought a new stake in shares of Inhibrx Biosciences in the 4th quarter valued at approximately $83,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Inhibrx Biosciences in the 4th quarter worth approximately $102,000. GAMMA Investing LLC boosted its holdings in shares of Inhibrx Biosciences by 9,834.8% in the 1st quarter. GAMMA Investing LLC now owns 6,855 shares of the company's stock worth $960,000 after acquiring an additional 6,786 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Inhibrx Biosciences in the 4th quarter worth approximately $128,000. 82.46% of the stock is currently owned by institutional investors.

Inhibrx Biosciences Trading Up 1.2%

NASDAQ:INBX traded up $0.31 during trading hours on Thursday, hitting $26.85. 13,088 shares of the stock were exchanged, compared to its average volume of 105,495. The company's 50 day moving average is $24.55 and its two-hundred day moving average is $17.30. Inhibrx Biosciences, Inc. has a twelve month low of $10.81 and a twelve month high of $30.23. The company has a quick ratio of 4.98, a current ratio of 4.98 and a debt-to-equity ratio of 1.45. The company has a market capitalization of $388.73 million, a P/E ratio of -2.53 and a beta of 0.33.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 13th. The company reported ($1.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.92) by $1.07. The firm had revenue of $1.30 million for the quarter. On average, sell-side analysts anticipate that Inhibrx Biosciences, Inc. will post 104.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on INBX shares. Wall Street Zen raised Inhibrx Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. JMP Securities reissued a "market perform" rating on shares of Inhibrx Biosciences in a report on Friday, August 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Inhibrx Biosciences has an average rating of "Hold".

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.