Inhibrx Biosciences (NASDAQ:INBX) Director Jon Faiz Kayyem Buys 5,000 Shares

Key Points

• Director Jon Faiz Kayyem bought 5,000 Inhibrx Biosciences shares at $100 each, a $500,000 transaction that increased his holdings by 1.16% to 434,360 shares. He also made two similar purchases earlier in September.
• INBX shares fell 9.3% to $100.33 during mid-day trading, while the company reported a quarterly loss of $2.34 per share, missing analyst expectations by $0.06.
• Analyst sentiment remains mixed but leans positive: MarketBeat lists a “Moderate Buy” consensus and a $197.50 target price, despite ratings ranging from “Strong Sell” to “Buy.”

Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) Director Jon Kayyem acquired 5,000 shares of the business's stock in a transaction that occurred on Wednesday, September 23rd. The shares were acquired at an average cost of $100.00 per share, for a total transaction of $500,000.00. Following the completion of the acquisition, the director owned 434,360 shares of the company's stock, valued at $43,436,000. This trade represents a 1.16% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Jon Faiz Kayyem also recently made the following trade(s):

• On Wednesday, September 16th, Jon Kayyem bought 5,000 shares of Inhibrx Biosciences stock. The shares were bought at an average price of $100.00 per share, with a total value of $500,000.00.
• On Tuesday, September 8th, Jon Kayyem purchased 5,000 shares of Inhibrx Biosciences stock. The stock was bought at an average price of $113.52 per share, for a total transaction of $567,600.00.

Inhibrx Biosciences Stock Down 9.3%

Shares of NASDAQ INBX traded down $10.34 during mid-day trading on Wednesday, reaching $100.33. 375,301 shares of the company were exchanged, compared to its average volume of 320,827. Inhibrx Biosciences, Inc. has a 1 year low of $28.16 and a 1 year high of $155.29. The firm has a 50-day moving average of $100.58 and a 200 day moving average of $94.95. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -11.30 and a beta of 3.66. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 12.58.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Inhibrx Biosciences during the second quarter worth $31,000. Quantbot Technologies LP acquired a new position in shares of Inhibrx Biosciences in the 2nd quarter valued at $68,000. State of Wyoming acquired a new position in shares of Inhibrx Biosciences in the 2nd quarter valued at $116,000. Hurley Capital LLC purchased a new position in Inhibrx Biosciences in the 4th quarter worth $131,000. Finally, Seven Fleet Capital Management LP acquired a new stake in Inhibrx Biosciences during the 1st quarter worth about $167,000. Institutional investors and hedge funds own 82.46% of the company's stock.

Wall Street Analyst Weigh In

INBX has been the subject of several recent analyst reports. Citigroup restated a "market perform" rating on shares of Inhibrx Biosciences in a research note on Friday, September 18th. Wall Street Zen lowered Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a report on Monday, August 17th. HC Wainwright assumed coverage on Inhibrx Biosciences in a research report on Monday, August 24th. They issued a "buy" rating and a $245.00 price objective for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Inhibrx Biosciences in a research note on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Inhibrx Biosciences presently has a consensus rating of "Moderate Buy" and a consensus target price of $197.50.

Inhibrx Biosciences Company Profile

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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