State Board of Administration of Florida Retirement System Takes $121,000 Position in Inhibrx, Inc. (NASDAQ:INBX)

State Board of Administration of Florida Retirement System bought a new stake in Inhibrx, Inc. (NASDAQ:INBXGet Rating) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,688 shares of the company’s stock, valued at approximately $121,000.

Other large investors also recently made changes to their positions in the company. Quantbot Technologies LP increased its holdings in shares of Inhibrx by 158.3% in the 1st 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 period. Graham Capital Management L.P. acquired a new position in shares of Inhibrx in the 1st quarter valued at about $203,000. HighTower Advisors LLC acquired a new position in shares of Inhibrx in the 1st quarter valued at about $223,000. Nisa Investment Advisors LLC increased its holdings in shares of Inhibrx by 1,012.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 11,120 shares of the company’s stock valued at $248,000 after purchasing an additional 10,120 shares during the period. Finally, M&T Bank Corp increased its holdings in shares of Inhibrx by 9.1% in the 1st quarter. M&T Bank Corp now owns 11,743 shares of the company’s stock valued at $262,000 after purchasing an additional 975 shares during the period. Institutional investors and hedge funds own 67.27% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Global Investors Lp Viking purchased 1,333,333 shares of the company’s stock in a transaction dated Friday, October 7th. The shares were bought at an average price of $30.00 per share, with a total value of $39,999,990.00. Following the completion of the transaction, the insider now directly owns 2,427,307 shares in the company, valued at approximately $72,819,210. The purchase was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder Global Investors Lp Viking purchased 1,333,333 shares of the company’s stock in a transaction dated Friday, October 7th. The shares were bought at an average price of $30.00 per share, with a total value of $39,999,990.00. Following the completion of the transaction, the insider now directly owns 2,427,307 shares in the company, valued at approximately $72,819,210. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Brendan P. Eckelman sold 40,000 shares of Inhibrx stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $33.51, for a total transaction of $1,340,400.00. Following the completion of the transaction, the insider now directly owns 2,195,553 shares in the company, valued at approximately $73,572,981.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 125,000 shares of company stock worth $3,792,730. Insiders own 25.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on INBX. JMP Securities restated a “buy” rating and issued a $40.00 price objective on shares of Inhibrx in a report on Wednesday, October 5th. Credit Suisse Group dropped their price objective on Inhibrx from $48.00 to $46.00 and set an “outperform” rating on the stock in a report on Tuesday, November 8th. Finally, Evercore ISI increased their price objective on Inhibrx from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 5th.

Inhibrx Trading Down 1.0 %

NASDAQ:INBX opened at $30.00 on Wednesday. The stock’s 50 day moving average price is $26.59 and its 200 day moving average price is $19.58. Inhibrx, Inc. has a 52 week low of $7.67 and a 52 week high of $45.99. The company has a market capitalization of $1.31 billion, a P/E ratio of -9.32 and a beta of 3.25. The company has a debt-to-equity ratio of 4.16, a quick ratio of 6.05 and a current ratio of 6.05.

About Inhibrx

(Get Rating)

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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Institutional Ownership by Quarter for Inhibrx (NASDAQ:INBX)

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