Inhibrx Biosciences (NASDAQ:INBX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Inhibrx from a "sell" to a "hold," and the stock's consensus analyst rating is currently Hold with a consensus price target of $150.00.
• Shares opened at $128.79 with a 1-year range of $10.84–$155.29 and a market cap of $1.88 billion, while the company reported a ($2.11) EPS that missed estimates and sell-side analysts forecast roughly -11.15 EPS for the current fiscal year.
• Institutional investors own about 82.46% of the stock, with notable stake increases by Perceptive Advisors and Morgan Stanley in the most recent quarter.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Several other equities research analysts also recently commented on the company. Lifesci Capital upgraded Inhibrx Biosciences to a "strong-buy" rating in a report on Friday, April 24th. Stifel Nicolaus began coverage on shares of Inhibrx Biosciences in a research report on Wednesday, April 8th. They issued a "buy" rating and a $150.00 price objective for the company. Weiss Ratings reiterated a "sell (d)" rating on shares of Inhibrx Biosciences in a research note on Thursday, January 22nd. Finally, Zacks Research raised shares of Inhibrx Biosciences to a "hold" rating in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given 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, Inhibrx Biosciences currently has an average rating of "Hold" and a consensus price target of $150.00.

Inhibrx Biosciences Trading Down 0.3%

Shares of INBX stock opened at $128.79 on Friday. The business's fifty day moving average price is $79.34 and its 200 day moving average price is $76.39. Inhibrx Biosciences has a 1-year low of $10.84 and a 1-year high of $155.29. The firm has a market capitalization of $1.88 billion, a PE ratio of -14.25 and a beta of 3.87. The company has a debt-to-equity ratio of 12.58, a current ratio of 3.93 and a quick ratio of 3.93.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last released its 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). As a group, sell-side analysts forecast that Inhibrx Biosciences will post -11.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Inhibrx Biosciences

Institutional investors and hedge funds have recently made changes to their positions in the company. Perceptive Advisors LLC increased its stake in Inhibrx Biosciences by 9.4% during the 4th quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company's stock valued at $114,764,000 after buying an additional 125,000 shares during the period. Morgan Stanley boosted its holdings in shares of Inhibrx Biosciences by 163.7% in the fourth quarter. Morgan Stanley now owns 1,167,728 shares of the company's stock worth $92,251,000 after buying an additional 724,872 shares during the period. Sofinnova Investments Inc. increased 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 acquiring an additional 10,762 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Inhibrx Biosciences by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 623,084 shares of the company's stock worth $49,224,000 after buying an additional 28,166 shares during the period. Finally, Capital Research Global Investors acquired a new stake in shares of Inhibrx Biosciences in the fourth quarter worth $33,304,000. 82.46% of the stock is 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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