Western Standard LLC Takes $4.45 Million Position in Inhibrx Biosciences, Inc. $INBX

Western Standard LLC acquired a new position in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 47,000 shares of the company’s stock, valued at approximately $4,453,000. Inhibrx Biosciences comprises 1.5% of Western Standard LLC’s investment portfolio, making the stock its 19th largest holding. Western Standard LLC owned 0.32% of Inhibrx Biosciences at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. PSP Research LLC bought a new position in Inhibrx Biosciences during the fourth quarter worth about $505,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Inhibrx Biosciences in the fourth quarter valued at approximately $20,856,000. SummitTX Capital L.P. raised its stake in Inhibrx Biosciences by 66.3% in the first quarter. SummitTX Capital L.P. now owns 137,821 shares of the company’s stock valued at $9,266,000 after buying an additional 54,936 shares during the period. Jefferies Financial Group Inc. bought a new stake in Inhibrx Biosciences in the fourth quarter valued at approximately $703,000. Finally, Swiss National Bank acquired a new stake in shares of Inhibrx Biosciences in the first quarter valued at approximately $968,000. 82.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on INBX. Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Wall Street Zen cut Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $150.00.

Inhibrx Biosciences Stock Up 7.3%

Shares of INBX opened at $101.48 on Thursday. The firm has a market cap of $1.49 billion, a P/E ratio of -11.43 and a beta of 3.51. The company has a debt-to-equity ratio of 12.58, a quick ratio of 5.07 and a current ratio of 5.07. Inhibrx Biosciences, Inc. has a 52 week low of $22.64 and a 52 week high of $155.29. The firm’s 50-day simple moving average is $91.28 and its 200 day simple moving average is $89.07.

Inhibrx Biosciences (NASDAQ:INBX) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($2.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.28) by ($0.06). On average, analysts forecast that Inhibrx Biosciences, Inc. will post -10.88 earnings per share for the current year.

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.