Inhibrx Biosciences (NASDAQ:INBX) CEO Acquires $453,420.00 in Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) CEO Mark Lappe purchased 4,500 shares of Inhibrx Biosciences stock in a transaction that occurred on Monday, September 28th. The stock was acquired at an average cost of $100.76 per share, with a total value of $453,420.00. Following the acquisition, the chief executive officer directly owned 740,548 shares of the company’s stock, valued at $74,617,616.48. The trade was a 0.61% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Mark Lappe also recently made the following trade(s):

• On Friday, September 25th, Mark Lappe acquired 5,500 shares of Inhibrx Biosciences stock. The shares were acquired at an average price of $99.16 per share, with a total value of $545,380.00.
• On Tuesday, September 8th, Mark Lappe acquired 25,000 shares of Inhibrx Biosciences stock. The shares were acquired at an average price of $105.82 per share, for a total transaction of $2,645,500.00.

Inhibrx Biosciences Stock Up 2.1%

Shares of INBX traded up $2.10 during trading on Monday, reaching $101.71. The company’s stock had a trading volume of 187,060 shares, compared to its average volume of 319,038. The company has a fifty day moving average of $101.24 and a two-hundred day moving average of $95.58. Inhibrx Biosciences, Inc. has a twelve month low of $28.16 and a twelve month high of $155.29. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -11.45 and a beta of 3.66. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 12.58.

Inhibrx Biosciences (NASDAQ:INBX) last released its earnings results on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing the consensus estimate of ($2.28) by ($0.06). On average, sell-side analysts predict that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current fiscal year.

Institutional Investors Weigh In On Inhibrx Biosciences

Large investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC bought a new stake in Inhibrx Biosciences in the second quarter valued at $31,000. Quantbot Technologies LP acquired a new stake in shares of Inhibrx Biosciences in the 2nd quarter worth about $68,000. Janney Montgomery Scott LLC boosted its stake in Inhibrx Biosciences by 16.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 6,406 shares of the company’s stock valued at $431,000 after purchasing an additional 911 shares during the period. State of Wyoming acquired a new position in Inhibrx Biosciences during the 2nd quarter valued at about $116,000. Finally, The Manufacturers Life Insurance Company grew its position in Inhibrx Biosciences by 51.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 4,228 shares of the company’s stock worth $284,000 after purchasing an additional 1,443 shares during the last quarter. 82.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INBX has been the subject of several research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday, September 11th. Wall Street Zen cut Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research note on Monday, August 17th. Citigroup reaffirmed a “market perform” rating on shares of Inhibrx Biosciences in a report on Friday, September 18th. Finally, HC Wainwright started coverage on Inhibrx Biosciences in a report on Monday, August 24th. They issued a “buy” rating and a $245.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $197.50.

About Inhibrx Biosciences

Inhibrx Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing biologic medicines for serious diseases with limited treatment options. The company uses a proprietary protein-engineering platform to design novel therapeutic proteins, including multivalent and long-acting biologics intended to selectively affect disease-related biological pathways.

Inhibrx’s development programs have included INBRX-101, also known as efzofitimod, an engineered fibroblast growth factor 1 intended for the treatment of alpha-1 antitrypsin deficiency-associated emphysema and other inflammatory lung conditions.