Russell Investments Group Ltd. Sells 23,606 Shares of Inhibrx, Inc. (NASDAQ:INBX)

Russell Investments Group Ltd. trimmed its holdings in Inhibrx, Inc. (NASDAQ:INBX - Free Report) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 435,450 shares of the company's stock after selling 23,606 shares during the quarter. Russell Investments Group Ltd. owned about 0.92% of Inhibrx worth $16,547,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. RA Capital Management L.P. increased its position in shares of Inhibrx by 22.6% during the third quarter. RA Capital Management L.P. now owns 4,724,207 shares of the company's stock worth $86,689,000 after purchasing an additional 870,340 shares in the last quarter. Eventide Asset Management LLC acquired a new position in Inhibrx during the third quarter worth approximately $7,964,000. Wellington Management Group LLP lifted its stake in Inhibrx by 24.4% in the third quarter. Wellington Management Group LLP now owns 174,899 shares of the company's stock valued at $3,209,000 after buying an additional 34,310 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Inhibrx by 1.0% in the third quarter. Vanguard Group Inc. now owns 1,789,811 shares of the company's stock valued at $32,843,000 after acquiring an additional 18,271 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of Inhibrx by 89.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 27,731 shares of the company's stock worth $509,000 after acquiring an additional 13,098 shares during the last quarter. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

Inhibrx Stock Performance

Shares of INBX stock traded up $0.14 during midday trading on Friday, hitting $34.15. The company had a trading volume of 246,595 shares, compared to its average volume of 387,772. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -6.79 and a beta of 2.87. The company has a debt-to-equity ratio of 4.78, a current ratio of 5.24 and a quick ratio of 5.25. The company's 50 day simple moving average is $35.11 and its 200 day simple moving average is $30.90. Inhibrx, Inc. has a 52-week low of $14.31 and a 52-week high of $39.79.

Inhibrx (NASDAQ:INBX - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $1.63 million during the quarter, compared to analysts' expectations of $0.10 million. Inhibrx had a negative net margin of 13,408.95% and a negative return on equity of 590.78%. Research analysts anticipate that Inhibrx, Inc. will post -4.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on INBX shares. Lifesci Capital downgraded shares of Inhibrx from an "outperform" rating to a "market perform" rating in a research report on Tuesday, January 23rd. JMP Securities reaffirmed a "market perform" rating on shares of Inhibrx in a report on Tuesday, January 23rd.

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.