Insider Selling: Inhibrx Biosciences (NASDAQ:INBX) Major Shareholder Sells 350,000 Shares of Stock

Key Points

• Inhibrx Biosciences major shareholder Global Investors Lp Viking sold 350,000 shares at an average price of $32.25, totaling approximately $11.29 million, resulting in an 83.93% reduction in their position.
• The company's stock performance recently saw an increase to $35.00, with a market capitalization of $506.80 million and a price-to-earnings ratio of -3.31.
• Wall Street analysis has shown mixed sentiments, with one report upgrading the stock to a "hold" rating while others maintain a "sell" or "reduce" rating, indicating uncertainty in future growth prospects.

Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) major shareholder Global Investors Lp Viking sold 350,000 shares of the business's stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $32.25, for a total value of $11,287,500.00. Following the completion of the sale, the insider directly owned 67,018 shares of the company's stock, valued at approximately $2,161,330.50. The trade was a 83.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Inhibrx Biosciences Stock Performance

Shares of INBX traded up $1.39 on Thursday, reaching $35.00. 363,669 shares of the stock traded hands, compared to its average volume of 110,045. The firm has a market cap of $506.80 million, a price-to-earnings ratio of -3.31 and a beta of 0.51. The company has a debt-to-equity ratio of 1.45, a current ratio of 4.98 and a quick ratio of 4.98. Inhibrx Biosciences, Inc. has a 12 month low of $10.81 and a 12 month high of $37.53. The stock's 50-day moving average price is $27.42 and its 200-day moving average price is $19.30.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($1.85) EPS for the quarter, topping analysts' consensus estimates of ($2.92) by $1.07. The company had revenue of $1.30 million for the quarter. Equities analysts forecast that Inhibrx Biosciences, Inc. will post 104.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INBX has been the subject of several recent research reports. Wall Street Zen upgraded Inhibrx Biosciences from a "sell" rating to a "hold" rating in a research note on Sunday, August 17th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Inhibrx Biosciences in a report on Wednesday. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Inhibrx Biosciences in a report on Friday, August 22nd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Inhibrx Biosciences currently has an average rating of "Reduce".

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in Inhibrx Biosciences during the first quarter valued at $27,000. GAMMA Investing LLC raised its position in Inhibrx Biosciences by 9,834.8% during the first quarter. GAMMA Investing LLC now owns 6,855 shares of the company's stock valued at $960,000 after purchasing an additional 6,786 shares in the last quarter. Bank of America Corp DE raised its position 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 valued at $130,000 after purchasing an additional 1,469 shares in the last quarter. Bluefin Capital Management LLC purchased a new position in shares of Inhibrx Biosciences in the first quarter worth about $160,000. Finally, Invesco Ltd. purchased a new position in shares of Inhibrx Biosciences in the second quarter worth about $193,000. 82.46% of the stock is owned by institutional investors and hedge funds.

About Inhibrx Biosciences

Inhibrx, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidate includes INBRX-101, an alpha-1 antitrypsin (AAT)-Fc fusion protein therapeutic candidate, which is in Phase 1 clinical trials for use in the treatment of patients with AAT deficiency.

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