Inhibrx (NASDAQ:INBX) Trading 0.9% Higher

Inhibrx, Inc. (NASDAQ:INBXGet 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

In related 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 value of $433,650.00. Following the completion of the sale, the insider now directly owns 2,491,053 shares in the company, valued at $44,091,638.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Brendan P. Eckelman sold 40,000 shares of Inhibrx stock in a transaction dated 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 directly owns 2,515,553 shares in the company, valued at $43,192,045.01. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $433,650.00. Following the completion of the sale, the insider now owns 2,491,053 shares of the company’s stock, valued at $44,091,638.10. The disclosure for this sale can be found here. 25.80% of the stock is currently owned by company insiders.

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.

About Inhibrx

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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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