Wall Street Zen Upgrades Inhibrx Biosciences (NASDAQ:INBX) to Hold

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 equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday.

Separately, JMP Securities restated a "market perform" rating on shares of Inhibrx Biosciences in a report on Thursday, May 15th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Inhibrx Biosciences has an average rating of "Hold".

Inhibrx Biosciences Trading Up 1.3%

INBX stock traded up $0.2940 during trading on Friday, hitting $23.2940. 11,476 shares of the company traded hands, compared to its average volume of 104,354. The firm has a market capitalization of $337.41 million, a PE ratio of -2.19 and a beta of 0.24. Inhibrx Biosciences has a 1 year low of $10.81 and a 1 year high of $25.29. The company has a 50-day moving average of $19.71 and a 200-day moving average of $15.24. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.98 and a current ratio of 4.98.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last issued its earnings results on Wednesday, August 13th. The company reported ($1.85) earnings per share for the quarter, beating the consensus estimate of ($2.92) by $1.07. The company had revenue of $1.30 million for the quarter. Analysts predict that Inhibrx Biosciences will post 104.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Strs Ohio bought a new position in shares of Inhibrx Biosciences in the 1st quarter worth approximately $27,000. Natixis bought a new position in shares of Inhibrx Biosciences in the 4th quarter worth approximately $31,000. State of Wyoming bought a new position in shares of Inhibrx Biosciences in the 4th quarter worth approximately $83,000. Wells Fargo & Company MN bought a new position in shares of Inhibrx Biosciences in the 4th quarter worth approximately $102,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Inhibrx Biosciences in the 4th quarter worth approximately $102,000. 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.