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

Key Points

• Inhibrx Biosciences has been upgraded by Wall Street Zen from a "sell" rating to a "hold" rating, indicating a more positive outlook for the company's stock.
• The company reported earnings of ($1.85) per share, surpassing analysts' expectations by $1.07, alongside a revenue of $1.30 million for the quarter.
• Institutional investors own approximately 82.46% of Inhibrx, with notable increases in holdings by several prominent firms, indicating strong institutional confidence in the company.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Sunday.

Separately, JMP Securities reaffirmed a "market perform" rating on shares of Inhibrx Biosciences in a report on Thursday, May 15th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold".

Inhibrx Biosciences Price Performance

Inhibrx Biosciences stock traded down $0.25 during midday trading on Friday, reaching $24.16. 143,209 shares of the stock were exchanged, compared to its average volume of 100,805. The company's fifty day moving average is $20.10 and its 200-day moving average is $15.39. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.98 and a current ratio of 4.98. The firm has a market cap of $349.84 million, a PE ratio of -2.28 and a beta of 0.24. Inhibrx Biosciences has a 52 week low of $10.81 and a 52 week high of $25.29.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last posted its earnings results on Wednesday, August 13th. The company reported ($1.85) earnings per share for the quarter, topping analysts' consensus estimates of ($2.92) by $1.07. The firm had revenue of $1.30 million for the quarter. On average, sell-side analysts forecast that Inhibrx Biosciences will post 104.88 EPS for the current year.

Institutional Investors Weigh In On Inhibrx Biosciences

A number of institutional investors have recently made changes to their positions in INBX. Sanofi purchased a new stake in shares of Inhibrx Biosciences in the 4th quarter valued at $17,832,000. Woodline Partners LP bought a new position in Inhibrx Biosciences in the 1st quarter worth $5,015,000. Millennium Management LLC bought a new position in Inhibrx Biosciences in the 4th quarter worth $3,979,000. Geode Capital Management LLC bought a new position in Inhibrx Biosciences in the 4th quarter worth $3,930,000. Finally, Caption Management LLC bought a new position in shares of Inhibrx Biosciences in the 4th quarter worth about $3,078,000. 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.