Inhibrx Biosciences (NASDAQ:INBX) Shares Up 8.7% - Here's Why

Shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) rose 8.7% on Tuesday . The stock traded as high as $20.16 and last traded at $19.94. Approximately 301,071 shares changed hands during mid-day trading, an increase of 211% from the average daily volume of 96,751 shares. The stock had previously closed at $18.35.

Analysts Set New Price Targets

Separately, JMP Securities reaffirmed a "market perform" rating on shares of Inhibrx Biosciences in a research note on Thursday, May 15th.

Inhibrx Biosciences Stock Up 0.3%

The stock's 50 day simple moving average is $13.91 and its two-hundred day simple moving average is $13.54. The firm has a market cap of $303.79 million, a P/E ratio of 0.18 and a beta of -0.04. The company has a debt-to-equity ratio of 1.04, a current ratio of 5.12 and a quick ratio of 5.12.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($2.80) EPS for the quarter, missing analysts' consensus estimates of ($2.55) by ($0.25). As a group, research analysts forecast that Inhibrx Biosciences, Inc. will post 104.88 earnings per share for the current year.

Institutional Trading of Inhibrx Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sanofi purchased a new stake in shares of Inhibrx Biosciences in the 4th quarter worth $17,832,000. HighTower Advisors LLC purchased a new stake in Inhibrx Biosciences in the fourth quarter worth about $12,039,000. Walleye Capital LLC purchased a new stake in Inhibrx Biosciences in the fourth quarter worth about $8,932,000. Slotnik Capital LLC bought a new position in Inhibrx Biosciences during the 4th quarter worth about $5,975,000. Finally, Woodline Partners LP purchased a new position in Inhibrx Biosciences during the 1st quarter valued at about $5,015,000. Hedge funds and other institutional investors own 82.46% of the company's stock.

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.