Inhibrx Biosciences (NASDAQ:INBX) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Inhibrx Biosciences (NASDAQ:INBX) posted its quarterly earnings data on Thursday. The company reported ($2.11) EPS for the quarter, missing analysts’ consensus estimates of ($2.08) by ($0.03), FiscalAI reports.

Inhibrx Biosciences Price Performance

Inhibrx Biosciences stock traded down $3.82 during mid-day trading on Thursday, hitting $64.87. The company’s stock had a trading volume of 183,928 shares, compared to its average volume of 184,538. The stock has a market capitalization of $943.21 million, a P/E ratio of -6.47 and a beta of 1.50. Inhibrx Biosciences has a twelve month low of $10.81 and a twelve month high of $94.57. The stock’s fifty day moving average price is $75.74 and its two-hundred day moving average price is $65.28. The company has a quick ratio of 4.49, a current ratio of 4.49 and a debt-to-equity ratio of 2.71.

Institutional Investors Weigh In On Inhibrx Biosciences

Several large investors have recently modified their holdings of INBX. Morgan Stanley grew its holdings in shares of Inhibrx Biosciences by 163.7% in the 4th quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock worth $92,251,000 after acquiring an additional 724,872 shares during the last quarter. Caligan Partners LP purchased a new stake in shares of Inhibrx Biosciences during the third quarter valued at $7,961,000. State Street Corp boosted its position in shares of Inhibrx Biosciences by 83.9% in the 4th quarter. State Street Corp now owns 374,961 shares of the company’s stock valued at $29,622,000 after purchasing an additional 171,038 shares during the period. Norges Bank acquired a new position in shares of Inhibrx Biosciences in the 4th quarter valued at $10,531,000. Finally, Schonfeld Strategic Advisors LLC increased its stake in Inhibrx Biosciences by 120.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 214,725 shares of the company’s stock worth $16,963,000 after purchasing an additional 117,343 shares in the last quarter. 82.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Inhibrx Biosciences in a research note on Thursday, January 22nd. Citigroup reissued a “market perform” rating on shares of Inhibrx Biosciences in a report on Wednesday, November 19th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

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.