State Board of Administration of Florida Retirement System lowered its position in shares of Inhibrx, Inc. (NASDAQ:INBX – Get Rating) by 10.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,578 shares of the company’s stock after selling 1,110 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Inhibrx were worth $236,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its stake in shares of Inhibrx by 17.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 96,949 shares of the company’s stock valued at $1,741,000 after buying an additional 14,202 shares during the period. BNP Paribas Arbitrage SNC acquired a new stake in shares of Inhibrx during the third quarter valued at about $885,000. State Street Corp grew its stake in shares of Inhibrx by 282.7% during the third quarter. State Street Corp now owns 2,040,054 shares of the company’s stock valued at $36,619,000 after acquiring an additional 1,506,986 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Inhibrx by 238.9% during the third quarter. Two Sigma Advisers LP now owns 149,800 shares of the company’s stock valued at $2,689,000 after acquiring an additional 105,600 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Inhibrx by 31.6% during the third quarter. Two Sigma Investments LP now owns 163,489 shares of the company’s stock valued at $2,935,000 after acquiring an additional 39,264 shares in the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.
Inhibrx Stock Performance
Shares of NASDAQ INBX opened at $25.16 on Monday. The company has a quick ratio of 7.47, a current ratio of 7.47 and a debt-to-equity ratio of 13.61. The firm’s 50-day moving average price is $21.44 and its two-hundred day moving average price is $24.51. Inhibrx, Inc. has a 52-week low of $7.67 and a 52-week high of $34.72. The stock has a market capitalization of $1.10 billion, a P/E ratio of -6.39 and a beta of 2.86.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. JMP Securities lowered their target price on Inhibrx from $40.00 to $35.00 and set a “market outperform” rating for the company in a research note on Wednesday, March 8th. Credit Suisse Group reaffirmed an “outperform” rating and set a $46.00 price target on shares of Inhibrx in a research report on Tuesday, March 7th. Finally, Lifesci Capital reaffirmed an “outperform” rating on shares of Inhibrx in a research report on Wednesday, April 26th.
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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