Inhibrx Biosciences, Inc. (NASDAQ:INBX) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Inhibrx Biosciences, with one sell, three hold, one buy and one strong-buy recommendation. The average 12-month price target is $150.
• INBX opened at $97.01, with a market capitalization of approximately $1.42 billion and a 52-week trading range of $22.40 to $155.29.
• The company reported quarterly EPS of -$2.34, missing the consensus estimate of -$2.28. Institutional investors own 82.46% of the stock, including a roughly $78.3 million new position from BlackRock.

Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) has received a consensus recommendation of "Hold" from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $150.00.

A number of research analysts have recently commented on INBX shares. Lifesci Capital raised shares of Inhibrx Biosciences to a "strong-buy" rating in a research note on Friday, April 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Finally, Wall Street Zen upgraded shares of Inhibrx Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 9th.

Inhibrx Biosciences Price Performance

INBX stock opened at $97.01 on Friday. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -11.56 and a beta of 3.51. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 12.58. Inhibrx Biosciences has a 52-week low of $22.40 and a 52-week high of $155.29. The stock's fifty day simple moving average is $90.85 and its 200-day simple moving average is $88.48.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing the consensus estimate of ($2.28) by ($0.06). Equities research analysts expect that Inhibrx Biosciences will post -10.15 EPS for the current year.

Institutional Trading of Inhibrx Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in Inhibrx Biosciences in the second quarter valued at $68,000. Western Standard LLC purchased a new stake in Inhibrx Biosciences during the second quarter valued at about $4,453,000. NewEdge Wealth LLC acquired a new stake in Inhibrx Biosciences during the second quarter worth about $332,000. NINE MASTS CAPITAL Ltd acquired a new stake in Inhibrx Biosciences during the second quarter worth about $284,000. Finally, BlackRock Inc. purchased a new position in shares of Inhibrx Biosciences in the 2nd quarter worth about $78,261,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

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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