Inhibrx Biosciences (NASDAQ:INBX) Director Jon Faiz Kayyem Purchases 5,000 Shares

Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Jon Kayyem bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was purchased at an average cost of $100.00 per share, with a total value of $500,000.00. Following the completion of the transaction, the director owned 429,360 shares in the company, valued at approximately $42,936,000. This trade represents a 1.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Jon Faiz Kayyem also recently made the following trade(s):

• On Tuesday, September 8th, Jon Kayyem acquired 5,000 shares of Inhibrx Biosciences stock. The shares were acquired at an average cost of $113.52 per share, for a total transaction of $567,600.00.

Inhibrx Biosciences Stock Performance

Shares of Inhibrx Biosciences stock traded up $2.96 during trading hours on Thursday, hitting $104.73. 215,669 shares of the company were exchanged, compared to its average volume of 320,164. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -11.79 and a beta of 3.66. The business has a 50-day moving average of $99.49 and a 200-day moving average of $93.99. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 12.58. Inhibrx Biosciences, Inc. has a 1 year low of $26.20 and a 1 year high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last released 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). As a group, analysts expect that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on INBX shares. Wall Street Zen cut Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a report on Monday, August 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Friday, September 11th. Citigroup reaffirmed a “market perform” rating on shares of Inhibrx Biosciences in a report on Thursday, August 27th. Finally, HC Wainwright began coverage on Inhibrx Biosciences in a research note on Monday, August 24th. They set a “buy” rating and a $245.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $197.50.

Hedge Funds Weigh In On Inhibrx Biosciences

Several institutional investors and hedge funds have recently modified their holdings of INBX. Perceptive Advisors LLC raised its position in Inhibrx Biosciences by 9.4% during the fourth quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company’s stock valued at $114,764,000 after acquiring an additional 125,000 shares in the last quarter. Bank of America Corp DE bought a new stake in Inhibrx Biosciences during the second quarter valued at about $79,698,000. BlackRock Inc. bought a new position in Inhibrx Biosciences in the 2nd quarter worth approximately $78,261,000. Sofinnova Investments Inc. raised its position in shares of Inhibrx Biosciences by 3.3% during the fourth quarter. Sofinnova Investments Inc. now owns 454,657 shares of the company’s stock valued at $35,918,000 after buying an additional 14,565 shares during the last quarter. Finally, Capital Research Global Investors bought a new position in Inhibrx Biosciences during the fourth quarter valued at about $33,304,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

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.