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

Key Points

• Director Kimberly Manhard sold 500 Inhibrx Biosciences shares for $55,130 at an average price of $110.26, reducing her holdings by 5.88% to 8,000 shares. She also sold 500 shares each on September 8 and September 11.
• INBX shares fell to $105.61 in mid-day trading, while the company reported quarterly EPS of -$2.34, missing the consensus estimate of -$2.28.
• Analyst sentiment remains mixed but averages to a “Moderate Buy,” with a consensus price target of $197.50; institutional investors own 82.46% of the company.

Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) Director Kimberly Manhard sold 500 shares of the company's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $110.26, for a total transaction of $55,130.00. Following the transaction, the director owned 8,000 shares of the company's stock, valued at approximately $882,080. This trade represents a 5.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, September 11th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The stock was sold at an average price of $111.78, for a total value of $55,890.00.
• 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 value of $57,570.00.

Inhibrx Biosciences Price Performance

Shares of Inhibrx Biosciences stock traded down $4.86 during mid-day trading on Tuesday, reaching $105.61. 251,601 shares of the stock traded hands, compared to its average volume of 320,513. The business has a 50-day moving average of $99.30 and a 200 day moving average of $93.64. Inhibrx Biosciences, Inc. has a fifty-two week low of $26.19 and a fifty-two week high of $155.29. The stock has a market capitalization of $1.55 billion, a PE ratio of -11.89 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 released its 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). On average, analysts predict that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on INBX shares. HC Wainwright began coverage on shares of Inhibrx Biosciences in a research report on Monday, August 24th. They set a "buy" rating and a $245.00 price target on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Inhibrx Biosciences in a report on Friday. Wall Street Zen lowered shares of Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a report on Monday, August 17th. Finally, Citigroup restated a "market perform" rating on shares of Inhibrx Biosciences in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Inhibrx Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $197.50.

Institutional Investors Weigh In On Inhibrx Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Western Standard LLC acquired a new position in shares of Inhibrx Biosciences in the 2nd quarter valued at $4,453,000. Nicholas Investment Partners LP acquired a new stake in shares of Inhibrx Biosciences during the 2nd quarter worth about $2,032,000. BlackRock Inc. acquired a new stake in shares of Inhibrx Biosciences during the 2nd quarter worth about $78,261,000. Parkman Healthcare Partners LLC purchased a new stake in Inhibrx Biosciences in the 2nd quarter valued at about $24,346,000. Finally, Bank of New York Mellon Corp purchased a new stake in Inhibrx Biosciences in the 2nd quarter valued at about $2,482,000. Institutional investors and hedge funds own 82.46% of the company's stock.

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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