Citigroup Inc. Sells 34,948 Shares of Inhibrx, Inc. (NASDAQ:INBX)

Citigroup Inc. lowered its stake in shares of Inhibrx, Inc. (NASDAQ:INBX – Get Rating) by 28.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 86,513 shares of the company’s stock after selling 34,948 shares during the period. Citigroup Inc.’s holdings in Inhibrx were worth $2,132,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Point72 Hong Kong Ltd raised its position in shares of Inhibrx by 154.6% during the second quarter. Point72 Hong Kong Ltd now owns 2,879 shares of the company’s stock valued at $33,000 after buying an additional 1,748 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Inhibrx by 633.1% during the third quarter. Nisa Investment Advisors LLC now owns 2,346 shares of the company’s stock valued at $47,000 after buying an additional 2,026 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Inhibrx by 418.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,704 shares of the company’s stock valued at $66,000 after buying an additional 2,989 shares during the last quarter. Quantbot Technologies LP raised its position in shares of Inhibrx by 90.8% during the second quarter. Quantbot Technologies LP now owns 5,915 shares of the company’s stock valued at $67,000 after buying an additional 2,815 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Inhibrx by 52.7% during the second quarter. Legal & General Group Plc now owns 8,383 shares of the company’s stock valued at $95,000 after buying an additional 2,892 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on INBX shares. JMP Securities cut their price objective on shares of Inhibrx from $40.00 to $35.00 and set a “market outperform” rating for the company in a research report on Wednesday, March 8th. Lifesci Capital reissued an “outperform” rating on shares of Inhibrx in a research report on Wednesday, April 26th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $46.00 price target on shares of Inhibrx in a research report on Tuesday, March 7th.

Inhibrx Stock Performance

NASDAQ:INBX opened at $23.36 on Thursday. Inhibrx, Inc. has a 12-month low of $7.67 and a 12-month high of $34.72. 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 has a market capitalization of $1.02 billion, a PE ratio of -5.93 and a beta of 2.86. The firm has a 50-day moving average price of $21.49 and a 200 day moving average price of $24.40.

Inhibrx (NASDAQ:INBX – Get Rating) last posted its quarterly earnings data on Monday, March 6th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.15). The firm had revenue of $0.27 million for the quarter, compared to analyst estimates of $0.30 million. Inhibrx had a negative return on equity of 1,961.44% and a negative net margin of 12,725.62%. Research analysts anticipate that Inhibrx, Inc. will post -4.06 earnings per share for the current fiscal year.

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.