Inhibrx Biosciences (NASDAQ:INBX) Sees Large Volume Increase Following Insider Buying Activity

Inhibrx Biosciences, Inc. (NASDAQ:INBX) saw unusually-high trading volume on Tuesday following insider buying activity. Approximately 332,846 shares were traded during mid-day trading, an increase of 7% from the previous session’s volume of 311,249 shares.The stock last traded at $97.0620 and had previously closed at $121.17.

Specifically, Director Jon Kayyem purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were purchased at an average price of $113.52 per share, for a total transaction of $567,600.00. Following the completion of the purchase, the director directly owned 424,360 shares of the company’s stock, valued at approximately $48,173,347.20. This represents a 1.19% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Lappe purchased 25,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was acquired at an average cost of $105.82 per share, for a total transaction of $2,645,500.00. Following the acquisition, the chief executive officer directly owned 730,548 shares in the company, valued at approximately $77,306,589.36. This trade represents a 3.54% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In other Inhibrx Biosciences news, Director Douglas Forsyth acquired 2,500 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was bought at an average price of $114.65 per share, for a total transaction of $286,625.00. Following the purchase, the director owned 227,064 shares in the company, valued at $26,032,887.60. This represents a 1.11% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analyst Weigh In

INBX has been the subject of a number of analyst reports. HC Wainwright assumed coverage on shares of Inhibrx Biosciences in a report on Monday, August 24th. They set a “buy” rating and a $245.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. Wall Street Zen lowered shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Finally, Citigroup restated a “market perform” rating on shares of Inhibrx Biosciences in a research note on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $197.50.

Key Stories Impacting Inhibrx Biosciences

Here are the key news stories impacting Inhibrx Biosciences this week:

• Positive Sentiment: Strong head-and-neck cancer results: INBRX-106 combined with Merck’s Keytruda produced a 48.3% confirmed overall response rate, compared with 26.5% for Keytruda alone. Six-month progression-free survival was 72.4% versus 42.8%, while interim median progression-free survival reached 9.6 months. Inhibrx Phase 2 HNSCC study results
• Positive Sentiment: Especially compelling HPV-positive subgroup: The combination generated an 80% response rate versus 33.3% with Keytruda alone, a 30% complete-response rate versus zero for monotherapy, and markedly better six-month progression-free survival. Inhibrx plans to add approximately 50 HPV-positive patients to the Phase 2 study, potentially supporting an accelerated-approval strategy. Reuters report on Inhibrx cancer study
• Positive Sentiment: Significant insider buying: CEO Mark Lappe bought 25,000 shares for about $2.65 million, while directors Jon Kayyem and Douglas Forsyth purchased 5,000 and 2,500 shares, respectively. The purchases may support investor confidence in management’s view of the company’s prospects. Inhibrx insider purchases
• Neutral Sentiment: Additional pipeline potential: Inhibrx is also developing ozekibart and INBRX-106 for rare cancers and larger immuno-oncology markets. Ozekibart’s FDA biologics-license application decision is expected by April 2027, leaving a potentially important catalyst ahead.
• Negative Sentiment: Market response remains lukewarm: Investors may have expected an even stronger catalyst from the HNSCC data, and the results remain from a mid-stage trial. Further enrollment, regulatory review, and confirmation in larger studies are still required before the opportunity can be fully valued. Analysis of the market response to Inhibrx HNSCC data

Inhibrx Biosciences Stock Down 1.3%

The company has a debt-to-equity ratio of 12.58, a current ratio of 5.07 and a quick ratio of 5.07. The firm has a 50 day simple moving average of $98.52 and a 200-day simple moving average of $92.96. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of -12.71 and a beta of 3.66.

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 analysts’ consensus estimates of ($2.28) by ($0.06). On average, sell-side analysts forecast that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Inhibrx Biosciences

Several institutional investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in Inhibrx Biosciences in the first quarter valued at about $27,000. Russell Investments Group Ltd. increased its holdings in shares of Inhibrx Biosciences by 11.0% during the second quarter. Russell Investments Group Ltd. now owns 29,993 shares of the company’s stock worth $428,000 after buying an additional 2,963 shares in the last quarter. Invesco Ltd. acquired a new stake in shares of Inhibrx Biosciences during the second quarter worth approximately $193,000. Bank of America Corp DE raised its stake in shares of Inhibrx Biosciences by 19.2% in the second quarter. Bank of America Corp DE now owns 9,130 shares of the company’s stock valued at $130,000 after acquiring an additional 1,469 shares during the last quarter. Finally, Bridgeway Capital Management LLC bought a new stake in Inhibrx Biosciences during the 2nd quarter worth approximately $235,000. 82.46% of the stock is owned by institutional investors.

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.