Inhibrx (NASDAQ:INBX) Trading Down 5.4%

Inhibrx, Inc. (NASDAQ:INBX)’s stock price traded down 5.4% on Monday . The company traded as low as $17.99 and last traded at $18.06. 47,157 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 403,022 shares. The stock had previously closed at $19.10.

Wall Street Analyst Weigh In

Several research firms recently commented on INBX. JMP Securities reduced their price objective on shares of Inhibrx from $35.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, August 23rd. Lifesci Capital reissued an “outperform” rating on shares of Inhibrx in a research report on Tuesday, August 8th.

Inhibrx Stock Performance

The company has a current ratio of 10.16, a quick ratio of 10.16 and a debt-to-equity ratio of 1.59. The company’s fifty day moving average price is $18.36 and its 200-day moving average price is $21.54.

Insider Buying and Selling at Inhibrx

In related news, major shareholder Global Investors Lp Viking purchased 511,627 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was acquired at an average price of $19.35 per share, with a total value of $9,899,982.45. Following the completion of the acquisition, the insider now owns 511,627 shares in the company, valued at approximately $9,899,982.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 25.80% of the stock is currently owned by company insiders.

Institutional Trading of Inhibrx

Several large investors have recently added to or reduced their stakes in INBX. Swiss National Bank lifted 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 worth $501,000 after purchasing an additional 1,200 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Inhibrx by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 86,174 shares of the company’s stock valued at $1,920,000 after acquiring an additional 1,017 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Inhibrx during the 1st quarter worth about $223,000. MetLife Investment Management LLC lifted its holdings in shares of Inhibrx by 49.5% in the 1st quarter. MetLife Investment Management LLC now owns 17,227 shares of the company’s stock valued at $384,000 after buying an additional 5,704 shares during the period. Finally, Rhumbline Advisers raised its position in Inhibrx by 13.1% during the first quarter. Rhumbline Advisers now owns 28,409 shares of the company’s stock valued at $633,000 after acquiring an additional 3,299 shares in the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Inhibrx Company Profile

Inhibrx, Inc, a clinical-stage biopharmaceutical 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.