Inhibrx Biosciences (NASDAQ:INBX) Rating Lowered to Sell at Wall Street Zen
by Jessica Moore · The Cerbat GemInhibrx Biosciences (NASDAQ:INBX – Get Free Report) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
Other equities analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Inhibrx Biosciences in a research note on Thursday, January 22nd. Stifel Nicolaus started coverage on Inhibrx Biosciences in a research note on Wednesday, April 8th. They issued a “buy” rating and a $150.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $150.00.
Check Out Our Latest Stock Analysis on Inhibrx Biosciences
Inhibrx Biosciences Price Performance
INBX opened at $75.27 on Friday. The company has a debt-to-equity ratio of 12.58, a current ratio of 3.93 and a quick ratio of 3.93. The business has a 50 day simple moving average of $72.94 and a 200-day simple moving average of $70.02. The stock has a market capitalization of $1.10 billion, a P/E ratio of -8.33 and a beta of 1.82. Inhibrx Biosciences has a 12 month low of $10.81 and a 12 month high of $94.57.
Inhibrx Biosciences (NASDAQ:INBX – Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The company reported ($2.11) EPS for the quarter, missing the consensus estimate of ($2.08) by ($0.03). On average, equities analysts anticipate that Inhibrx Biosciences will post 104.88 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Inhibrx Biosciences
Hedge funds have recently bought and sold shares of the stock. Boothbay Fund Management LLC increased its position in Inhibrx Biosciences by 179.2% during the third quarter. Boothbay Fund Management LLC now owns 78,812 shares of the company’s stock worth $2,654,000 after buying an additional 50,582 shares in the last quarter. SG Americas Securities LLC purchased a new position in Inhibrx Biosciences during the fourth quarter worth $1,271,000. Readystate Asset Management LP increased its position in Inhibrx Biosciences by 534.1% during the third quarter. Readystate Asset Management LP now owns 170,158 shares of the company’s stock worth $5,731,000 after buying an additional 143,324 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Inhibrx Biosciences during the third quarter worth $249,000. Finally, HighVista Strategies LLC purchased a new position in Inhibrx Biosciences during the third quarter worth $257,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.
About Inhibrx Biosciences
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.