Kimberly Manhard Sells 500 Shares of Inhibrx Biosciences (NASDAQ:INBX) Stock

Inhibrx Biosciences, Inc. (NASDAQ:INBX) Director Kimberly Manhard sold 500 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $111.78, for a total transaction of $55,890.00. Following the completion of the sale, the director directly owned 8,500 shares in the company, valued at approximately $950,130. This represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Kimberly Manhard also recently made the following trade(s):

• On Monday, September 14th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The stock was sold at an average price of $110.26, for a total transaction of $55,130.00.
• On Tuesday, September 8th, Kimberly Manhard sold 500 shares of Inhibrx Biosciences stock. The shares were sold at an average price of $115.14, for a total transaction of $57,570.00.

Inhibrx Biosciences Stock Down 3.6%

Shares of NASDAQ INBX opened at $101.77 on Thursday. The company has a debt-to-equity ratio of 12.58, a current ratio of 5.07 and a quick ratio of 5.07. The company has a market cap of $1.50 billion, a P/E ratio of -11.46 and a beta of 3.66. Inhibrx Biosciences, Inc. has a 1 year low of $26.19 and a 1 year high of $155.29. The firm has a 50-day simple moving average of $99.49 and a two-hundred day simple moving average of $93.99.

Inhibrx Biosciences (NASDAQ:INBX) last released its 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). Research analysts anticipate that Inhibrx Biosciences, Inc. will post -9.91 earnings per share for the current year.

Hedge Funds Weigh In On Inhibrx Biosciences

Institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new position in Inhibrx Biosciences during the 2nd quarter worth about $31,000. Quantbot Technologies LP bought a new stake in shares of Inhibrx Biosciences in the 2nd quarter valued at about $68,000. State of Wyoming purchased a new stake in shares of Inhibrx Biosciences in the 2nd quarter worth approximately $116,000. Hurley Capital LLC purchased a new stake in shares of Inhibrx Biosciences in the 4th quarter worth approximately $131,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Inhibrx Biosciences during the second quarter valued at approximately $194,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Analyst Ratings Changes

INBX has been the topic of a number of research analyst reports. Citigroup restated a “market perform” rating on shares of Inhibrx Biosciences in a report on Thursday, August 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Friday, September 11th. HC Wainwright initiated coverage on shares of Inhibrx Biosciences in a research note on Monday, August 24th. They issued a “buy” rating and a $245.00 target price on the stock. Finally, Wall Street Zen lowered shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $197.50.

Inhibrx Biosciences Company Profile

Inhibrx Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing biologic medicines for serious diseases with limited treatment options. The company uses a proprietary protein-engineering platform to design novel therapeutic proteins, including multivalent and long-acting biologics intended to selectively affect disease-related biological pathways.

Inhibrx’s development programs have included INBRX-101, also known as efzofitimod, an engineered fibroblast growth factor 1 intended for the treatment of alpha-1 antitrypsin deficiency-associated emphysema and other inflammatory lung conditions.