Inhibrx Biosciences (NASDAQ:INBX) CEO Mark Lappe Purchases 5,500 Shares of Company Stock

Key Points

• CEO Mark Lappe bought 5,500 shares of Inhibrx Biosciences at an average price of $99.16, investing $545,380 and increasing his ownership by 0.75% to 736,048 shares.
• Lappe has also purchased 29,500 additional shares in two recent transactions, bringing his disclosed recent buying to 35,000 shares.
• INBX traded near $101.71, while analyst sentiment remained mixed but averaged a “Moderate Buy” rating with a consensus price target of $197.50; the company’s latest quarterly EPS missed estimates.

Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) CEO Mark Lappe purchased 5,500 shares of the firm's stock in a transaction dated Friday, September 25th. The shares were bought at an average price of $99.16 per share, for a total transaction of $545,380.00. Following the completion of the transaction, the chief executive officer owned 736,048 shares of the company's stock, valued at approximately $72,986,519.68. This trade represents a 0.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Mark Lappe also recently made the following trade(s):

• On Monday, September 28th, Mark Lappe acquired 4,500 shares of Inhibrx Biosciences stock. The stock was purchased at an average price of $100.76 per share, with a total value of $453,420.00.
• On Tuesday, September 8th, Mark Lappe acquired 25,000 shares of Inhibrx Biosciences stock. The shares were purchased at an average cost of $105.82 per share, with a total value of $2,645,500.00.

Inhibrx Biosciences Price Performance

Inhibrx Biosciences stock traded up $2.10 during midday trading on Monday, reaching $101.71. 187,060 shares of the stock were exchanged, compared to its average volume of 319,038. The company's fifty day moving average is $101.24 and its 200-day moving average is $95.58. The company has a debt-to-equity ratio of 12.58, a quick ratio of 5.07 and a current ratio of 5.07. The firm has a market cap of $1.50 billion, a PE ratio of -11.45 and a beta of 3.66. Inhibrx Biosciences, Inc. has a 52 week low of $28.16 and a 52 week high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.28) by ($0.06). On average, sell-side analysts forecast that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current year.

Institutional Trading of Inhibrx Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC bought a new position in Inhibrx Biosciences in the second quarter valued at $31,000. Quantbot Technologies LP bought a new stake in Inhibrx Biosciences during the second quarter worth about $68,000. Janney Montgomery Scott LLC lifted its stake in Inhibrx Biosciences by 16.6% during the first quarter. Janney Montgomery Scott LLC now owns 6,406 shares of the company's stock worth $431,000 after purchasing an additional 911 shares during the last quarter. State of Wyoming bought a new stake in Inhibrx Biosciences during the second quarter worth about $116,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Inhibrx Biosciences by 51.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,228 shares of the company's stock worth $284,000 after purchasing an additional 1,443 shares in the last quarter. Hedge funds and other institutional investors own 82.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on INBX shares. HC Wainwright began coverage on Inhibrx Biosciences in a research report on Monday, August 24th. They set a "buy" rating and a $245.00 target price for the company. Citigroup reaffirmed a "market perform" rating on shares of Inhibrx Biosciences in a report on Friday, September 18th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Inhibrx Biosciences in a research report on Friday, September 11th. Finally, Wall Street Zen lowered Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $197.50.

About Inhibrx Biosciences

Inhibrx Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing biologic medicines for serious diseases with limited treatment options. The company uses a proprietary protein-engineering platform to design novel therapeutic proteins, including multivalent and long-acting biologics intended to selectively affect disease-related biological pathways.

Inhibrx's development programs have included INBRX-101, also known as efzofitimod, an engineered fibroblast growth factor 1 intended for the treatment of alpha-1 antitrypsin deficiency-associated emphysema and other inflammatory lung conditions.

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