Inhibrx, Inc. (NASDAQ:INBX) CEO Mark Lappe Sells 21,665 Shares of Stock

Inhibrx, Inc. (NASDAQ:INBXGet Rating) CEO Mark Lappe sold 21,665 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $25.36, for a total value of $549,424.40. Following the completion of the sale, the chief executive officer now owns 2,490,587 shares of the company’s stock, valued at approximately $63,161,286.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Mark Lappe also recently made the following trade(s):

  • On Monday, December 19th, Mark Lappe sold 26,000 shares of Inhibrx stock. The shares were sold at an average price of $25.56, for a total value of $664,560.00.

Inhibrx Stock Up 6.1 %

Shares of Inhibrx stock opened at $27.01 on Wednesday. The company has a market cap of $1.18 billion, a PE ratio of -8.39 and a beta of 3.10. The business has a 50 day moving average of $26.61 and a 200 day moving average of $23.99. Inhibrx, Inc. has a 52 week low of $7.67 and a 52 week high of $34.72.

Inhibrx (NASDAQ:INBXGet Rating) last announced its earnings results on Monday, November 7th. The company reported ($0.90) EPS for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.11. The company had revenue of $0.28 million during the quarter, compared to the consensus estimate of $0.70 million. Inhibrx had a negative return on equity of 1,262.54% and a negative net margin of 2,628.82%. On average, research analysts anticipate that Inhibrx, Inc. will post -3.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INBX. Credit Suisse Group lowered their price objective on Inhibrx from $48.00 to $46.00 and set an “outperform” rating for the company in a research report on Tuesday, November 8th. Evercore ISI boosted their price objective on Inhibrx from $54.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 5th. Finally, JMP Securities reiterated a “buy” rating and issued a $40.00 price objective on shares of Inhibrx in a research report on Wednesday, October 5th.

Hedge Funds Weigh In On Inhibrx

A number of hedge funds and other institutional investors have recently made changes to their positions in INBX. Swiss National Bank raised its holdings in shares of Inhibrx by 5.6% during the first quarter. Swiss National Bank now owns 22,500 shares of the company’s stock valued at $501,000 after acquiring an additional 1,200 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Inhibrx by 1.2% in the first quarter. Bank of New York Mellon Corp now owns 86,174 shares of the company’s stock worth $1,920,000 after purchasing an additional 1,017 shares during the period. HighTower Advisors LLC purchased a new stake in Inhibrx in the first quarter worth $223,000. MetLife Investment Management LLC grew its stake in Inhibrx by 49.5% in the first quarter. MetLife Investment Management LLC now owns 17,227 shares of the company’s stock worth $384,000 after purchasing an additional 5,704 shares during the period. Finally, Rhumbline Advisers grew its stake in Inhibrx by 13.1% in the first quarter. Rhumbline Advisers now owns 28,409 shares of the company’s stock worth $633,000 after purchasing an additional 3,299 shares during the period. Institutional investors own 72.79% of the company’s stock.

Inhibrx Company Profile

(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.

Further Reading

Insider Buying and Selling by Quarter for Inhibrx (NASDAQ:INBX)

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