Shares of Inhibrx, Inc. (NASDAQ:INBX – Get Rating) dropped 5.1% on Wednesday after Credit Suisse Group lowered their price target on the stock from $53.00 to $48.00. Credit Suisse Group currently has an outperform rating on the stock. Inhibrx traded as low as $22.69 and last traded at $23.29. Approximately 6,139 shares traded hands during trading, a decline of 98% from the average daily volume of 374,211 shares. The stock had previously closed at $24.54.
Separately, JMP Securities reaffirmed a “buy” rating and set a $40.00 target price on shares of Inhibrx in a report on Wednesday, July 6th.
Insider Activity
In other news, insider Brendan P. Eckelman sold 24,500 shares of Inhibrx stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $17.70, for a total transaction of $433,650.00. Following the completion of the sale, the insider now owns 2,491,053 shares in the company, valued at approximately $44,091,638.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Brendan P. Eckelman sold 24,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $17.70, for a total value of $433,650.00. Following the completion of the sale, the insider now owns 2,491,053 shares in the company, valued at approximately $44,091,638.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brendan P. Eckelman sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $17.17, for a total value of $686,800.00. Following the completion of the sale, the insider now owns 2,515,553 shares of the company’s stock, valued at approximately $43,192,045.01. The disclosure for this sale can be found here. Corporate insiders own 25.80% of the company’s stock.
Institutional Trading of Inhibrx
Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC bought a new stake in Inhibrx in the 4th quarter worth approximately $27,000. Ensign Peak Advisors Inc bought a new stake in Inhibrx in the fourth quarter valued at approximately $128,000. Quantbot Technologies LP lifted its position in Inhibrx by 158.3% in the first quarter. Quantbot Technologies LP now owns 3,100 shares of the company’s stock valued at $69,000 after purchasing an additional 1,900 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Inhibrx in the fourth quarter valued at approximately $154,000. Finally, Principal Financial Group Inc. bought a new stake in Inhibrx in the fourth quarter valued at approximately $207,000. Institutional investors own 59.59% of the company’s stock.
Inhibrx Stock Down 5.7 %
The company has a quick ratio of 7.48, a current ratio of 7.48 and a debt-to-equity ratio of 4.16. The company has a 50-day simple moving average of $14.78 and a two-hundred day simple moving average of $18.32. The stock has a market cap of $903.71 million, a P/E ratio of -10.06 and a beta of 3.24.
Inhibrx (NASDAQ:INBX – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.18). Inhibrx had a negative net margin of 1,289.14% and a negative return on equity of 246.26%. The company had revenue of $0.93 million during the quarter, compared to the consensus estimate of $1.00 million. On average, equities analysts forecast that Inhibrx, Inc. will post -3.18 EPS for the current year.
About Inhibrx
Inhibrx, Inc, a clinical-stage biotechnology company, focuses on developing a pipeline of novel biologic therapeutic candidates. The company’s therapeutic candidates include INBRX-109, a tetravalent agonist of death receptor 5, which is in Phase 2 clinical trials to treat cancers, such as chondrosarcoma, mesothelioma, and pancreatic adenocarcinoma; INBRX-105, a tetravalent conditional agonist of programmed death-ligand 1 and a conditional agonist of 4-1BB that is in Phase 1 clinical trials to treat patients with locally advanced or metastatic solid tumors; and INBRX-101, an alpha-1 antitrypsin (AAT)-Fc fusion protein therapeutic candidate, which is in Phase 1 clinical trials for use in the treatment of patients with AAT deficiency.