Inhibrx Biosciences (NASDAQ:INBX) Posts Quarterly Earnings Results, Misses Estimates By $0.47 EPS

Inhibrx Biosciences (NASDAQ:INBX) released its earnings results on Thursday. The company reported ($2.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47), FiscalAI reports.

Inhibrx Biosciences Trading Down 1.5%

Shares of NASDAQ:INBX traded down $1.79 during mid-day trading on Thursday, hitting $116.16. The stock had a trading volume of 563,655 shares, compared to its average volume of 710,079. The company’s 50 day moving average is $86.96 and its 200-day moving average is $81.89. Inhibrx Biosciences has a 12-month low of $10.97 and a 12-month high of $155.29. The company has a debt-to-equity ratio of 12.58, a quick ratio of 3.93 and a current ratio of 3.93. The company has a market cap of $1.70 billion, a PE ratio of -12.85 and a beta of 3.88.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Zacks Research upgraded shares of Inhibrx Biosciences to a “hold” rating in a research report on Thursday, April 9th. Wall Street Zen upgraded Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Stifel Nicolaus started coverage on Inhibrx Biosciences in a research note on Wednesday, April 8th. They set a “buy” rating and a $150.00 price objective for the company. Lifesci Capital upgraded Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Inhibrx Biosciences in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $150.00.

Institutional Trading of Inhibrx Biosciences

Several large investors have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd purchased a new position in Inhibrx Biosciences during the fourth quarter valued at approximately $27,000. BNP Paribas Financial Markets grew its holdings in Inhibrx Biosciences by 71.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock valued at $64,000 after buying an additional 789 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Inhibrx Biosciences during the 4th quarter worth about $66,000. Public Employees Retirement System of Ohio acquired a new position in Inhibrx Biosciences in the 3rd quarter valued at approximately $40,000. Finally, Diadema Partners LP bought a new position in Inhibrx Biosciences in the fourth quarter worth $103,000. 82.46% of the stock is owned by institutional investors and hedge funds.

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.