Inhibrx (NASDAQ:INBX) Stock Price Up 0.9%

Inhibrx, Inc. (NASDAQ:INBXGet Rating)’s share price rose 0.9% during trading on Friday . The company traded as high as $13.48 and last traded at $13.42. Approximately 3,053 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 611,977 shares. The stock had previously closed at $13.30.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on INBX shares. Credit Suisse Group lowered their target price on Inhibrx to $48.00 in a report on Monday, August 15th. JMP Securities reiterated a “buy” rating and issued a $40.00 target price on shares of Inhibrx in a report on Wednesday, July 6th.

Inhibrx Stock Performance

The firm has a market capitalization of $571.45 million, a P/E ratio of -5.14 and a beta of 3.11. The stock has a fifty day simple moving average of $18.61 and a two-hundred day simple moving average of $17.12. The company has a debt-to-equity ratio of 4.16, a current ratio of 7.50 and a quick ratio of 7.50.

Insider Activity

In related news, insider Brendan P. Eckelman sold 40,000 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $17.17, for a total transaction of $686,800.00. Following the completion of the sale, the insider now owns 2,515,553 shares in the company, valued at $43,192,045.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Inhibrx news, insider Brendan P. Eckelman sold 24,500 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $17.70, for a total value of $433,650.00. Following the transaction, the insider now owns 2,491,053 shares of the company’s stock, valued at $44,091,638.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brendan P. Eckelman sold 40,000 shares of the business’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $17.17, for a total value of $686,800.00. Following the completion of the transaction, the insider now directly owns 2,515,553 shares in the company, valued at approximately $43,192,045.01. The disclosure for this sale can be found here. Corporate insiders own 25.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Verition Fund Management LLC purchased a new position in Inhibrx in the second quarter worth $1,079,000. Legal & General Group Plc lifted its position in shares of Inhibrx by 52.7% during the 2nd quarter. Legal & General Group Plc now owns 8,383 shares of the company’s stock valued at $95,000 after buying an additional 2,892 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in shares of Inhibrx during the 2nd quarter valued at $763,000. Point72 Hong Kong Ltd lifted its position in shares of Inhibrx by 154.6% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,879 shares of the company’s stock valued at $33,000 after buying an additional 1,748 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Inhibrx by 316.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 60,396 shares of the company’s stock valued at $685,000 after buying an additional 45,896 shares during the last quarter. Hedge funds and other institutional investors own 67.27% of the company’s stock.

About Inhibrx

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Inhibrx, Inc, a clinical-stage biotechnology company, focuses on developing a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidates include INBRX-109, a tetravalent agonist of death receptor 5, which is in Phase 2 clinical trials to treat cancers, such as chondrosarcoma, mesothelioma, and pancreatic adenocarcinoma; INBRX-105, a tetravalent conditional agonist of programmed death-ligand 1 and a conditional agonist of 4-1BB that is in Phase 1 clinical trials to treat patients with locally advanced or metastatic solid tumors; 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.

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