Inhibrx Biosciences (NASDAQ:INBX) Sets New 52-Week High - Here's What Happened

Key Points

• Inhibrx Biosciences (INBX) hit a new 52-week high, trading as high as $150.47 intraday and last at $114.14 after a prior close of $84.08, with about 356,006 shares traded (stock up ~31.5%).
• Analyst opinions are mixed: Stifel started coverage with a Buy and $150 price target, while the consensus rating is "Hold" (1 Buy, 3 Hold, 1 Sell) and a consensus price target of $150.00.
• The company is a clinical-stage biotech with a $1.62 billion market cap and negative earnings (recent quarter EPS -$2.11; expected -11.01 EPS for the year), with lead candidate INBRX-109 targeting tissue repair and regeneration.

Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $150.47 and last traded at $114.1380, with a volume of 356006 shares trading hands. The stock had previously closed at $84.08.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Stifel Nicolaus assumed coverage on shares of Inhibrx Biosciences in a research note on Wednesday, April 8th. They issued a "buy" rating and a $150.00 price objective for the company. Zacks Research upgraded shares of Inhibrx Biosciences to a "hold" rating in a research note on Thursday, April 9th. Weiss Ratings reiterated a "sell (d)" rating on shares of Inhibrx Biosciences in a research note on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of Inhibrx Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $150.00.

Inhibrx Biosciences Stock Up 31.5%

The company has a market cap of $1.62 billion, a P/E ratio of -12.11 and a beta of 1.82. The firm's 50 day moving average price is $72.88 and its two-hundred day moving average price is $72.47. The company has a debt-to-equity ratio of 12.58, a quick ratio of 3.93 and a current ratio of 3.93.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($2.11) EPS for the quarter, missing analysts' consensus estimates of ($2.08) by ($0.03). Equities research analysts anticipate that Inhibrx Biosciences, Inc. will post -11.01 EPS for the current fiscal year.

Institutional Trading of Inhibrx Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of INBX. Persistent Asset Partners Ltd bought a new stake in Inhibrx Biosciences during the 4th quarter valued at $27,000. Strs Ohio bought a new stake in Inhibrx Biosciences during the 1st quarter valued at $27,000. Public Employees Retirement System of Ohio bought a new stake in Inhibrx Biosciences during the 3rd quarter valued at $40,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Inhibrx Biosciences by 26.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company's stock valued at $56,000 after purchasing an additional 147 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Inhibrx Biosciences by 71.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company's stock valued at $64,000 after purchasing an additional 789 shares in the last quarter. Institutional investors own 82.46% of the company's stock.

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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