Inhibrx, Inc. (NASDAQ:INBX) Short Interest Update

Inhibrx, Inc. (NASDAQ:INBX - Get Free Report) was the target of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 1,600,000 shares, a drop of 17.9% from the February 29th total of 1,950,000 shares. Based on an average daily volume of 757,800 shares, the days-to-cover ratio is currently 2.1 days. Approximately 4.5% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on INBX. JMP Securities reaffirmed a "market perform" rating on shares of Inhibrx in a report on Tuesday, January 23rd. Lifesci Capital downgraded Inhibrx from an "outperform" rating to a "market perform" rating in a report on Tuesday, January 23rd.

Inhibrx Stock Performance

Shares of INBX traded down $0.19 during midday trading on Friday, reaching $34.96. 231,802 shares of the stock were exchanged, compared to its average volume of 590,678. Inhibrx has a twelve month low of $14.31 and a twelve month high of $39.79. The company has a quick ratio of 5.25, a current ratio of 5.24 and a debt-to-equity ratio of 4.78. The company has a market cap of $1.66 billion, a P/E ratio of -6.95 and a beta of 2.94. The stock's 50 day simple moving average is $36.64 and its 200 day simple moving average is $28.17.

Inhibrx (NASDAQ:INBX - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported ($1.73) earnings per share for the quarter, missing analysts' consensus estimates of ($1.07) by ($0.66). Inhibrx had a negative return on equity of 590.78% and a negative net margin of 13,408.95%. The firm had revenue of $1.63 million for the quarter, compared to analyst estimates of $0.10 million. On average, sell-side analysts expect that Inhibrx will post -4.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of INBX. Swiss National Bank grew its position in Inhibrx by 5.6% in the first quarter. Swiss National Bank now owns 22,500 shares of the company's stock valued at $501,000 after acquiring an additional 1,200 shares during the last quarter. Bank of New York Mellon Corp grew its position in Inhibrx by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 86,174 shares of the company's stock valued at $1,920,000 after acquiring an additional 1,017 shares during the last quarter. HighTower Advisors LLC bought a new position in Inhibrx in the first quarter valued at about $223,000. MetLife Investment Management LLC grew its position in Inhibrx by 49.5% in the first quarter. MetLife Investment Management LLC now owns 17,227 shares of the company's stock valued at $384,000 after acquiring an additional 5,704 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Inhibrx by 13.1% in the first quarter. Rhumbline Advisers now owns 28,409 shares of the company's stock valued at $633,000 after acquiring an additional 3,299 shares during the last quarter. Institutional investors own 82.46% of the company's stock.

Inhibrx Company Profile

Inhibrx, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidates include INBRX-109, a tetravalent therapeutic candidate targeting death receptor 5, which is in Phase 2 clinical trials to treat cancers, such as chondrosarcoma, mesothelioma, colorectal cancer, ewing sarcoma, and pancreatic adenocarcinoma; and 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.