Swiss National Bank Makes New Investment in Inhibrx Biosciences, Inc. $INBX

Swiss National Bank bought a new stake in shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,400 shares of the company’s stock, valued at approximately $968,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of INBX. Persistent Asset Partners Ltd purchased a new position in shares of Inhibrx Biosciences in the 4th quarter worth $27,000. Strs Ohio bought a new stake in shares of Inhibrx Biosciences in the first quarter worth $27,000. Public Employees Retirement System of Ohio purchased a new stake in Inhibrx Biosciences during the third quarter valued at $40,000. Mirae Asset Global Investments Co. Ltd. increased its position in Inhibrx Biosciences by 26.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company’s stock valued at $56,000 after acquiring an additional 147 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Inhibrx Biosciences by 71.9% in the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock valued at $64,000 after acquiring an additional 789 shares during the period. 82.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on INBX. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Lifesci Capital raised shares of Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. Zacks Research raised shares of Inhibrx Biosciences to a “hold” rating in a report on Thursday, April 9th. Stifel Nicolaus began coverage on shares of Inhibrx Biosciences in a research report on Wednesday, April 8th. They set a “buy” rating and a $150.00 target price for the company. Finally, Wall Street Zen cut shares of Inhibrx Biosciences from a “hold” rating to a “sell” rating in a report on Saturday. One research 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, Inhibrx Biosciences presently has an average rating of “Hold” and an average price target of $150.00.

Inhibrx Biosciences Stock Performance

NASDAQ:INBX opened at $82.05 on Friday. The stock has a 50-day simple moving average of $92.70 and a two-hundred day simple moving average of $87.42. Inhibrx Biosciences, Inc. has a 52-week low of $20.55 and a 52-week high of $155.29. The company has a debt-to-equity ratio of 12.58, a quick ratio of 6.46 and a current ratio of 6.46. The firm has a market capitalization of $1.20 billion, a PE ratio of -9.78 and a beta of 3.41.

Inhibrx Biosciences (NASDAQ:INBX) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($2.15) EPS for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47). Analysts forecast that Inhibrx Biosciences, Inc. will post -10.15 EPS for the current year.

Inhibrx Biosciences 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.