Kimberly Manhard Sells 500 Shares of Inhibrx Biosciences (NASDAQ:INBX) Stock

Key Points

• Director Kimberly Manhard sold 500 Inhibrx Biosciences shares at an average price of $115.14, generating $57,570 and reducing her direct stake by 5% to 9,500 shares.
• INBX shares fell 1.3% to $111.42, while the company reported a quarterly EPS loss of $2.34, missing analysts’ expectations by $0.06. Analysts project a full-year loss of $9.91 per share.
• Institutional investors own 82.46% of the stock, and analyst sentiment remains mixed but leans positive: the consensus rating is “Moderate Buy” with an average price target of $197.50.

Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) Director Kimberly Manhard sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $115.14, for a total transaction of $57,570.00. Following the completion of the transaction, the director directly owned 9,500 shares of the company's stock, valued at approximately $1,093,830. The trade was a 5.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Inhibrx Biosciences Stock Down 1.3%

Inhibrx Biosciences stock traded down $1.44 during mid-day trading on Thursday, reaching $111.42. 313,774 shares of the company's stock were exchanged, compared to its average volume of 362,108. 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, Inc. has a twelve month low of $26.19 and a twelve month high of $155.29. The company has a market cap of $1.64 billion, a P/E ratio of -12.55 and a beta of 3.66. The company has a fifty day moving average of $98.80 and a 200-day moving average of $93.20.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of INBX. Perceptive Advisors LLC boosted its holdings in Inhibrx Biosciences by 9.4% in the 4th quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company's stock valued at $114,764,000 after purchasing an additional 125,000 shares in the last quarter. Morgan Stanley raised its stake in shares of Inhibrx Biosciences by 163.7% during the 4th quarter. Morgan Stanley now owns 1,167,728 shares of the company's stock worth $92,251,000 after buying an additional 724,872 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Inhibrx Biosciences during the 2nd quarter worth approximately $79,698,000. BlackRock Inc. acquired a new stake in shares of Inhibrx Biosciences in the 2nd quarter valued at approximately $78,261,000. Finally, California State Teachers Retirement System boosted its stake in shares of Inhibrx Biosciences by 149,396.5% in the second quarter. California State Teachers Retirement System now owns 734,028 shares of the company's stock valued at $69,549,000 after buying an additional 733,537 shares in the last quarter. Institutional investors and hedge funds own 82.46% of the company's stock.

Analyst Ratings Changes

INBX has been the subject of several recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. Wall Street Zen cut shares of Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a report on Monday, August 17th. Citigroup restated a "market perform" rating on shares of Inhibrx Biosciences in a report on Thursday, August 27th. Finally, HC Wainwright started coverage on shares of Inhibrx Biosciences in a research note on Monday, August 24th. They set a "buy" rating and a $245.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $197.50.

Inhibrx Biosciences Company Profile

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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