UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 20,000 Shares of Inhibrx Biosciences, Inc. $INBX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Inhibrx Biosciences, Inc. (NASDAQ:INBX) by 29,850.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,067 shares of the company’s stock after acquiring an additional 20,000 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Inhibrx Biosciences were worth $1,901,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Ratan Capital Management LP bought a new stake in Inhibrx Biosciences in the 2nd quarter valued at about $1,574,000. Jefferies Financial Group Inc. acquired a new position in shares of Inhibrx Biosciences during the 2nd quarter worth approximately $6,956,000. Corient Private Wealth LP bought a new position in shares of Inhibrx Biosciences during the second quarter worth approximately $2,715,000. Bank of America Corp DE bought a new position in shares of Inhibrx Biosciences during the second quarter worth approximately $79,698,000. Finally, Jupiter Topco LLC acquired a new stake in shares of Inhibrx Biosciences in the second quarter valued at approximately $322,000. 82.46% of the stock is owned by institutional investors.

Insider Activity

In other Inhibrx Biosciences news, CEO Mark Lappe bought 25,000 shares of Inhibrx Biosciences stock in a transaction on Tuesday, September 8th. The shares were purchased at an average price of $105.82 per share, with a total value of $2,645,500.00. Following the acquisition, the chief executive officer owned 730,548 shares in the company, valued at $77,306,589.36. This trade represents a 3.54% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $115.14, for a total value of $57,570.00. Following the completion of the transaction, the director owned 9,500 shares in the company, valued at approximately $1,093,830. The trade was a 5.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired 32,500 shares of company stock valued at $3,499,725 in the last three months. Company insiders own 18.26% of the company’s stock.

Inhibrx Biosciences Price Performance

INBX stock opened at $109.27 on Friday. The company’s 50-day moving average price is $99.03 and its two-hundred day moving average price is $93.31. The firm has a market cap of $1.61 billion, a P/E ratio of -12.31 and a beta of 3.66. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 12.58. Inhibrx Biosciences, Inc. has a 12 month low of $26.19 and a 12 month high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06). On average, analysts anticipate that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Inhibrx Biosciences Company 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.