Inhibrx Biosciences (NASDAQ:INBX) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS
by Michael Walen · The Markets DailyInhibrx Biosciences (NASDAQ:INBX – Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($2.11) EPS for the quarter, missing analysts’ consensus estimates of ($2.08) by ($0.03), FiscalAI reports.
Inhibrx Biosciences Stock Down 6.1%
Shares of NASDAQ INBX opened at $60.92 on Friday. Inhibrx Biosciences has a 52 week low of $10.81 and a 52 week high of $94.57. The business has a 50-day simple moving average of $75.51 and a two-hundred day simple moving average of $65.51. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 2.71. The company has a market cap of $886.02 million, a P/E ratio of -6.74 and a beta of 1.50.
Institutional Investors Weigh In On Inhibrx Biosciences
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. boosted its position in shares of Inhibrx Biosciences by 539.6% in the fourth quarter. Invesco Ltd. now owns 112,396 shares of the company’s stock valued at $8,879,000 after acquiring an additional 94,822 shares during the period. Corient Private Wealth LLC bought a new stake in Inhibrx Biosciences during the 4th quarter worth approximately $1,615,000. XTX Topco Ltd bought a new stake in Inhibrx Biosciences during the 4th quarter worth approximately $713,000. Virtus Investment Advisers LLC purchased a new stake in Inhibrx Biosciences in the 4th quarter worth approximately $264,000. Finally, SummitTX Capital L.P. lifted its stake in Inhibrx Biosciences by 53.1% in the 4th quarter. SummitTX Capital L.P. now owns 82,885 shares of the company’s stock worth $6,548,000 after purchasing an additional 28,742 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Inhibrx Biosciences in a research note on Thursday, January 22nd. Two equities research analysts have 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, the company presently has an average rating of “Reduce”.
Read Our Latest Stock Report on Inhibrx Biosciences
Inhibrx Biosciences Company Profile
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.