Inhibrx Biosciences (NASDAQ:INBX) Given Sell (D) Rating at Weiss Ratings

Key Points

• Inhibrx Biosciences' stock has been given a sell (D) rating by Weiss Ratings, reaffirming negative sentiment on the stock.
• The company reported a quarterly earnings per share (EPS) of ($1.85), significantly beating the estimated EPS of ($2.92).
• Analysts have varying ratings on the stock, with an average rating of "Reduce", indicating cautious sentiment among investment firms.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other research firms have also weighed in on INBX. JMP Securities reaffirmed a "market perform" rating on shares of Inhibrx Biosciences in a research note on Friday, August 22nd. Wall Street Zen raised Inhibrx Biosciences from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce".

Inhibrx Biosciences Stock Performance

NASDAQ:INBX opened at $33.61 on Wednesday. The stock has a 50-day simple moving average of $27.16 and a two-hundred day simple moving average of $19.16. Inhibrx Biosciences has a 52-week low of $10.81 and a 52-week high of $37.53. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.98 and a current ratio of 4.98. The firm has a market capitalization of $486.67 million, a PE ratio of -3.18 and a beta of 0.51.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($1.85) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.92) by $1.07. The company had revenue of $1.30 million for the quarter. Analysts forecast that Inhibrx Biosciences will post 104.88 EPS for the current year.

Institutional Investors Weigh In On Inhibrx Biosciences

A number of hedge funds have recently made changes to their positions in the company. Sofinnova Investments Inc. lifted its position in shares of Inhibrx Biosciences by 1.5% in the second quarter. Sofinnova Investments Inc. now owns 708,678 shares of the company's stock worth $10,113,000 after buying an additional 10,762 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in shares of Inhibrx Biosciences in the second quarter worth about $235,000. Bank of America Corp DE lifted its position in shares of Inhibrx Biosciences by 19.2% in the second quarter. Bank of America Corp DE now owns 9,130 shares of the company's stock worth $130,000 after buying an additional 1,469 shares in the last quarter. Mark Asset Management LP purchased a new stake in shares of Inhibrx Biosciences in the second quarter worth about $243,000. Finally, Kennedy Capital Management LLC lifted its position in shares of Inhibrx Biosciences by 7.5% in the second quarter. Kennedy Capital Management LLC now owns 177,318 shares of the company's stock worth $2,530,000 after buying an additional 12,342 shares in the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Inhibrx Biosciences Company 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.

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