Inhibrx Biosciences (NASDAQ:INBX) Shares Down 5.2% - What's Next?

Key Points

• Shares of Inhibrx fell an intraday 5.2% to $83.64 on Monday with just 6,689 shares trading versus an average session volume of ~205,452, indicating unusually light liquidity.
• Analyst coverage is mixed (one Buy, three Hold, one Sell) with a MarketBeat consensus rating of "Hold" and a $150 consensus price target.
• The company is a clinical‑stage biotech (market cap ~$1.2B) that missed quarterly EPS estimates (reported ($2.11) vs. ($2.08)), has a negative P/E, strong liquidity ratios (current/quick ~3.93), and its lead candidate is INBRX‑109.

Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report)'s share price fell 5.2% during mid-day trading on Monday . The stock traded as low as $84.65 and last traded at $83.64. 6,689 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 205,452 shares. The stock had previously closed at $88.23.

Analyst Ratings Changes

INBX has been the subject of several recent research reports. Weiss Ratings reissued a "sell (d)" rating on shares of Inhibrx Biosciences in a report on Thursday, January 22nd. Wall Street Zen cut shares of Inhibrx Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Stifel Nicolaus initiated coverage on shares of Inhibrx Biosciences in a research note on Wednesday, April 8th. They set a "buy" rating and a $150.00 price target for the company. Finally, Zacks Research upgraded shares of Inhibrx Biosciences to a "hold" rating in a report on Thursday, April 9th. 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $150.00.

Inhibrx Biosciences Stock Down 7.2%

The business has a fifty day moving average of $72.95 and a 200 day moving average of $71.79. The company has a quick ratio of 3.93, a current ratio of 3.93 and a debt-to-equity ratio of 12.58. The firm has a market cap of $1.20 billion, a P/E ratio of -9.07 and a beta of 1.82.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last issued its earnings results on Thursday, March 19th. The company reported ($2.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.08) by ($0.03). On average, equities research analysts predict that Inhibrx Biosciences, Inc. will post 104.88 EPS for the current year.

Institutional Investors Weigh In On Inhibrx Biosciences

Hedge funds have recently bought and sold shares of the company. Boothbay Fund Management LLC grew its holdings in shares of Inhibrx Biosciences by 179.2% in the 3rd quarter. Boothbay Fund Management LLC now owns 78,812 shares of the company's stock valued at $2,654,000 after buying an additional 50,582 shares during the period. SG Americas Securities LLC acquired a new stake in Inhibrx Biosciences during the 4th quarter worth $1,271,000. Readystate Asset Management LP lifted its holdings in Inhibrx Biosciences by 534.1% during the third quarter. Readystate Asset Management LP now owns 170,158 shares of the company's stock worth $5,731,000 after acquiring an additional 143,324 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Inhibrx Biosciences during the third quarter worth about $249,000. Finally, HighVista Strategies LLC bought a new stake in shares of Inhibrx Biosciences in the third quarter worth about $257,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Inhibrx Biosciences Company 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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