Inhibrx Biosciences (NASDAQ:INBX) Trading Up 6.2% - Time to Buy?

Key Points

• Up 6.2% intraday to about $71.31 on Thursday, but the move came on thin volume (~24,584 shares vs. a 196,410 average), with the stock trading near its 50‑day (~$72.90) and 200‑day (~$69.08) moving averages.
• Mixed analyst ratings: Stifel initiated coverage with a "buy" and $150 target while Weiss Ratings reaffirmed a "sell," leaving a MarketBeat consensus of "Hold" and a consensus price target of $150.
• Clinical‑stage biotech fundamentals: market cap ~$1.13B, negative trailing P/E and a recent quarterly EPS loss of $2.11, and the lead candidate INBRX‑109 (a ROR2 agonist) targets tissue repair; institutional investors own about 82% of the stock.

Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) was up 6.2% on Thursday . The company traded as high as $70.04 and last traded at $71.31. Approximately 24,584 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 196,410 shares. The stock had previously closed at $67.13.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on INBX shares. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Inhibrx Biosciences in a research note on Thursday, January 22nd. Stifel Nicolaus started coverage on Inhibrx Biosciences in a research note on Wednesday. They issued a "buy" rating and a $150.00 price objective for the company. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $150.00.

Inhibrx Biosciences Price Performance

The company has a debt-to-equity ratio of 12.58, a current ratio of 3.93 and a quick ratio of 3.93. The stock has a 50 day moving average price of $72.90 and a two-hundred day moving average price of $69.08. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -8.54 and a beta of 1.82.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Boothbay Fund Management LLC grew its stake in Inhibrx Biosciences by 179.2% during the 3rd quarter. Boothbay Fund Management LLC now owns 78,812 shares of the company's stock worth $2,654,000 after purchasing an additional 50,582 shares in the last quarter. Mark Asset Management LP acquired a new position in Inhibrx Biosciences during the 2nd quarter worth $243,000. Franklin Resources Inc. acquired a new position in Inhibrx Biosciences during the 2nd quarter worth $316,000. Readystate Asset Management LP grew its stake in Inhibrx Biosciences by 534.1% during the 3rd quarter. Readystate Asset Management LP now owns 170,158 shares of the company's stock worth $5,731,000 after purchasing an additional 143,324 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Inhibrx Biosciences during the 4th quarter worth $1,271,000. 82.46% of the stock is 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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