Jon Faiz Kayyem Acquires 5,000 Shares of Inhibrx Biosciences (NASDAQ:INBX) Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Jon Kayyem purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, September 8th. The stock was bought at an average cost of $113.52 per share, with a total value of $567,600.00. Following the completion of the transaction, the director directly owned 424,360 shares in the company, valued at $48,173,347.20. The trade was a 1.19% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Inhibrx Biosciences Price Performance

Shares of NASDAQ:INBX opened at $112.86 on Thursday. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 12.58. The stock’s fifty day simple moving average is $98.52 and its two-hundred day simple moving average is $92.96. Inhibrx Biosciences, Inc. has a 1-year low of $26.19 and a 1-year high of $155.29. The stock has a market cap of $1.66 billion, a PE ratio of -12.71 and a beta of 3.66.

Inhibrx Biosciences (NASDAQ:INBX) last posted its earnings results 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 forecast that Inhibrx Biosciences, Inc. will post -9.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup reaffirmed a “market perform” rating on shares of Inhibrx Biosciences in a report on Thursday, August 27th. HC Wainwright initiated coverage on Inhibrx Biosciences in a report on Monday, August 24th. They set a “buy” rating and a $245.00 price target on the stock. Wall Street Zen cut Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $197.50.

Inhibrx Biosciences News Roundup

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Perceptive Advisors LLC increased its stake in shares of Inhibrx Biosciences by 9.4% during the 4th quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company’s stock worth $114,764,000 after purchasing an additional 125,000 shares during the last quarter. Morgan Stanley lifted its stake in Inhibrx Biosciences by 163.7% in the fourth quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock valued at $92,251,000 after purchasing an additional 724,872 shares during the last quarter. Bank of America Corp DE bought a new position in Inhibrx Biosciences during the second quarter valued at $79,698,000. BlackRock Inc. purchased a new stake in Inhibrx Biosciences in the second quarter worth $78,261,000. Finally, California State Teachers Retirement System increased its position in Inhibrx Biosciences by 149,396.5% in the second quarter. California State Teachers Retirement System now owns 734,028 shares of the company’s stock worth $69,549,000 after buying an additional 733,537 shares during the last quarter. 82.46% of the stock is owned by institutional investors.

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.