Inhibrx, Inc. (NASDAQ:INBX – Get Rating) traded up 0.9% during mid-day trading on Friday . The company traded as high as $13.48 and last traded at $13.42. 3,053 shares were traded during trading, a decline of 100% from the average session volume of 611,977 shares. The stock had previously closed at $13.30.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. JMP Securities reissued a “buy” rating and set a $40.00 price objective on shares of Inhibrx in a report on Wednesday, July 6th. Credit Suisse Group cut their price objective on Inhibrx to $48.00 in a report on Monday, August 15th.
Inhibrx Price Performance
The stock has a fifty day moving average of $18.61 and a 200-day moving average of $17.12. The company has a quick ratio of 7.50, a current ratio of 7.50 and a debt-to-equity ratio of 4.16. The firm has a market capitalization of $571.45 million, a P/E ratio of -5.14 and a beta of 3.11.
Insider Activity at Inhibrx
Hedge Funds Weigh In On Inhibrx
Institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its position in shares of Inhibrx by 1,012.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 11,120 shares of the company’s stock worth $248,000 after buying an additional 10,120 shares during the period. IndexIQ Advisors LLC acquired a new position in shares of Inhibrx during the 1st quarter worth about $384,000. Ensign Peak Advisors Inc acquired a new position in shares of Inhibrx during the 4th quarter worth about $128,000. Sio Capital Management LLC grew its position in shares of Inhibrx by 193.9% during the 2nd quarter. Sio Capital Management LLC now owns 365,210 shares of the company’s stock worth $4,145,000 after buying an additional 240,960 shares during the period. Finally, Sofinnova Investments Inc. acquired a new position in shares of Inhibrx in the 4th quarter valued at approximately $16,100,000. 67.27% of the stock is currently owned by institutional investors and hedge funds.
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.
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