Insider Buying: Inhibrx Biosciences (NASDAQ:INBX) Director Acquires $567,600.00 in Stock

Key Points

• Director Jon Kayyem purchased 5,000 INBX shares at an average price of $113.52, investing $567,600 and increasing his direct ownership by 1.19% to 424,360 shares.
• Inhibrx shares fell 5.6% to $114.34, while the company reported a quarterly loss of $2.34 per share, missing the consensus estimate of a $2.28 loss.
• Analyst views remain mixed, but the stock carries a consensus “Moderate Buy” rating with an average price target of $197.50, well above its reported trading price.

Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) Director Jon Kayyem acquired 5,000 shares of Inhibrx Biosciences stock in a transaction on Tuesday, September 8th. The shares were purchased at an average price of $113.52 per share, for a total transaction of $567,600.00. Following the completion of the acquisition, the director directly owned 424,360 shares in the company, valued at $48,173,347.20. This trade represents a 1.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Inhibrx Biosciences Stock Down 5.6%

Shares of INBX stock traded down $6.83 on Tuesday, hitting $114.34. The stock had a trading volume of 1,672,141 shares, compared to its average volume of 319,653. Inhibrx Biosciences, Inc. has a one year low of $26.19 and a one year high of $155.29. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 12.58. The company has a market cap of $1.68 billion, a PE ratio of -12.88 and a beta of 3.66. The business has a 50 day moving average price of $97.77 and a 200 day moving average price of $92.51.

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

Wall Street Analysts Forecast Growth

INBX has been the topic of several research analyst reports. HC Wainwright initiated coverage on Inhibrx Biosciences in a research note on Monday, August 24th. They set a "buy" rating and a $245.00 target price on the stock. Wall Street Zen downgraded shares of Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a research report on Monday, August 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. Finally, Citigroup restated a "market perform" rating on shares of Inhibrx Biosciences in a research note on Thursday, August 27th. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $197.50.

Inhibrx Biosciences News Roundup

Here are the key news stories impacting Inhibrx Biosciences this week:

• Positive Sentiment: INBRX-106 significantly improved treatment outcomes. In the randomized HexAgon study of first-line patients with PD-L1-positive head and neck squamous cell carcinoma, INBRX-106 combined with pembrolizumab produced a 48.3% confirmed overall response rate, compared with 26.5% for pembrolizumab alone. Interim median progression-free survival was 9.6 months, and 72.4% of combination-treated patients remained progression-free at six months versus 42.8% in the control group. Inhibrx Phase 2 HNSCC study results
• Positive Sentiment: Results were particularly strong in HPV-positive patients. The combination achieved an 80.0% response rate versus 33.3% with pembrolizumab alone, a 30.0% complete-response rate versus 0%, and six-month progression-free survival of 90.0% versus 33.0%. The company plans to add approximately 50 HPV-positive patients, potentially supporting an accelerated-approval pathway and broader use in immunogenic tumors. Reuters report on Inhibrx cancer study
• Positive Sentiment: Insider purchases added a confidence signal. CEO Mark Lappe bought 25,000 shares for approximately $2.65 million, while Director Douglas Forsyth purchased 2,500 shares for about $287,000. These open-market purchases may reinforce investor confidence following the clinical update. CEO SEC Form 4 filing
• Neutral Sentiment: Trading was temporarily halted for pending news. The halt reflects the significance and expected market impact of the clinical announcement, but it does not itself indicate the eventual trading direction. Inhibrx shares and Phase 2 data

Institutional Investors Weigh In On Inhibrx Biosciences

A number of large investors have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in shares of Inhibrx Biosciences in the 1st quarter worth $27,000. Russell Investments Group Ltd. boosted its position in shares of Inhibrx Biosciences by 11.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 29,993 shares of the company's stock worth $428,000 after purchasing an additional 2,963 shares during the period. Invesco Ltd. acquired a new stake in shares of Inhibrx Biosciences in the second quarter valued at $193,000. Bank of America Corp DE increased its stake in Inhibrx Biosciences by 19.2% during the second quarter. Bank of America Corp DE now owns 9,130 shares of the company's stock worth $130,000 after purchasing an additional 1,469 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new stake in Inhibrx Biosciences during the 2nd quarter worth approximately $235,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

About Inhibrx Biosciences

Inhibrx, Inc, headquartered in La Jolla, California, is a clinical-stage biotechnology company focused on the discovery and development of next-generation protein therapeutics. The company's proprietary protein engineering platform enables the design and production of multispecific and multivalent biologics with tailored binding characteristics and favorable pharmacokinetic properties. By leveraging high-throughput screening and structure-based design, Inhibrx aims to create molecules that address challenging targets in oncology, regenerative medicine and other areas of unmet medical need.

The company's lead candidate, INBRX-109, is a tetravalent agonist of the receptor tyrosine kinase ROR2 designed to stimulate tissue repair and regeneration.

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