Inhibrx Biosciences (NASDAQ:INBX) Director Sells $55,890.00 in Stock

Key Points

• Director Kimberly Manhard sold 500 Inhibrx Biosciences shares at an average price of $111.78, generating $55,890. Her direct holdings fell 5.56% to 8,500 shares, following two other 500-share sales in September.
• INBX shares declined 4.4% to $105.61, while the company recently reported a quarterly loss of $2.34 per share, missing analyst estimates by $0.06.
• Analyst opinions remain mixed, but the stock has a consensus “Moderate Buy” rating and a $197.50 target price. Institutional investors own 82.46% of the company.

Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) Director Kimberly Manhard sold 500 shares of the firm's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $111.78, for a total value of $55,890.00. Following the transaction, the director directly owned 8,500 shares of the company's stock, valued at $950,130. This represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Kimberly Manhard also recently made the following trade(s):

• On Monday, September 14th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The stock was sold at an average price of $110.26, for a total transaction of $55,130.00.
• On Tuesday, September 8th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The stock was sold at an average price of $115.14, for a total transaction of $57,570.00.

Inhibrx Biosciences Stock Down 4.4%

NASDAQ INBX traded down $4.86 during trading hours on Tuesday, reaching $105.61. 251,601 shares of the company's stock traded hands, compared to its average volume of 320,513. Inhibrx Biosciences, Inc. has a 52-week low of $26.19 and a 52-week high of $155.29. The firm has a market cap of $1.55 billion, a PE ratio of -11.89 and a beta of 3.66. The firm has a 50-day simple moving average of $99.30 and a 200 day simple moving average of $93.64. The company has a debt-to-equity ratio of 12.58, a current ratio of 5.07 and a quick ratio of 5.07.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing the consensus estimate of ($2.28) by ($0.06). Sell-side analysts anticipate that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Inhibrx Biosciences

Institutional investors have recently modified their holdings of the business. Western Standard LLC purchased a new position in Inhibrx Biosciences in the 2nd quarter worth about $4,453,000. Nicholas Investment Partners LP purchased a new stake in shares of Inhibrx Biosciences during the 2nd quarter valued at about $2,032,000. BlackRock Inc. bought a new stake in shares of Inhibrx Biosciences in the second quarter worth approximately $78,261,000. Parkman Healthcare Partners LLC bought a new stake in shares of Inhibrx Biosciences in the second quarter worth approximately $24,346,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Inhibrx Biosciences during the second quarter valued at approximately $2,482,000. 82.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in 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 price objective for the company. Citigroup reissued a "market perform" rating on shares of Inhibrx Biosciences in a report on Thursday, August 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of Inhibrx Biosciences in a research note on Friday. Finally, Wall Street Zen downgraded Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average 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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