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

Western Standard LLC bought a new stake in Inhibrx Biosciences, Inc. (NASDAQ:INBX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,000 shares of the company’s stock, valued at approximately $4,453,000. Inhibrx Biosciences accounts for 1.5% of Western Standard LLC’s portfolio, making the stock its 19th biggest position.

Other institutional investors also recently modified their holdings of the company. Perceptive Advisors LLC grew its stake in shares of Inhibrx Biosciences by 9.4% in 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. Morgan Stanley raised its stake in 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 purchasing an additional 724,872 shares in the last quarter. BlackRock Inc. acquired a new stake in Inhibrx Biosciences in the 2nd quarter worth about $78,261,000. Sofinnova Investments Inc. boosted its holdings in Inhibrx Biosciences by 1.5% in the 2nd quarter. Sofinnova Investments Inc. now owns 708,678 shares of the company’s stock valued at $10,113,000 after purchasing an additional 10,762 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Inhibrx Biosciences by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 623,084 shares of the company’s stock valued at $49,224,000 after purchasing an additional 28,166 shares during the period. Institutional investors own 82.46% of the company’s stock.

Inhibrx Biosciences Stock Performance

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. Inhibrx Biosciences, Inc. has a 52-week low of $22.64 and a 52-week high of $155.29. The company has a debt-to-equity ratio of 12.58, a quick ratio of 5.07 and a current ratio of 5.07. The business’s fifty day moving average is $91.28 and its 200-day moving average is $89.07.

Inhibrx Biosciences (NASDAQ:INBX) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06). Sell-side analysts expect that Inhibrx Biosciences, Inc. will post -10.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.