Jon Faiz Kayyem Sells 9,500 Shares of Inhibrx, Inc. (NASDAQ:INBX) Stock

Inhibrx, Inc. (NASDAQ:INBX – Get Rating) Director Jon Faiz Kayyem sold 9,500 shares of the business’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $25.26, for a total transaction of $239,970.00. Following the sale, the director now directly owns 3,224,301 shares of the company’s stock, valued at $81,445,843.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Jon Faiz Kayyem also recently made the following trade(s):

• On Wednesday, December 21st, Jon Faiz Kayyem sold 9,500 shares of Inhibrx stock. The stock was sold at an average price of $27.02, for a total transaction of $256,690.00.
• On Monday, November 21st, Jon Faiz Kayyem sold 9,500 shares of Inhibrx stock. The stock was sold at an average price of $29.89, for a total transaction of $283,955.00.

Inhibrx Price Performance

Inhibrx stock traded up $1.27 during trading hours on Monday, reaching $25.45. The stock had a trading volume of 386,242 shares, compared to its average volume of 458,060. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -7.90 and a beta of 3.10. The business’s 50 day moving average price is $26.87 and its 200-day moving average price is $23.86. Inhibrx, Inc. has a 52 week low of $7.67 and a 52 week high of $34.72.

Inhibrx (NASDAQ:INBX – Get Rating) last posted its quarterly earnings data on Monday, November 7th. The company reported ($0.90) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $0.11. Inhibrx had a negative net margin of 2,628.82% and a negative return on equity of 1,262.54%. The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.70 million. On average, sell-side analysts forecast that Inhibrx, Inc. will post -3.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Inhibrx

Several hedge funds have recently modified their holdings of INBX. Swiss National Bank increased its holdings in Inhibrx by 5.6% in the 1st quarter. Swiss National Bank now owns 22,500 shares of the company’s stock worth $501,000 after buying an additional 1,200 shares during the period. Bank of New York Mellon Corp increased its holdings in Inhibrx by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 86,174 shares of the company’s stock worth $1,920,000 after buying an additional 1,017 shares during the period. HighTower Advisors LLC acquired a new position in Inhibrx in the 1st quarter worth approximately $223,000. MetLife Investment Management LLC increased its holdings in Inhibrx by 49.5% in the 1st quarter. MetLife Investment Management LLC now owns 17,227 shares of the company’s stock worth $384,000 after buying an additional 5,704 shares during the period. Finally, Rhumbline Advisers boosted its position in Inhibrx by 13.1% in the 1st quarter. Rhumbline Advisers now owns 28,409 shares of the company’s stock worth $633,000 after purchasing an additional 3,299 shares in 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 firms recently weighed in on INBX. Credit Suisse Group lowered their price objective on shares of Inhibrx from $48.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, November 8th. JMP Securities reiterated a “buy” rating and issued a $40.00 target price on shares of Inhibrx in a report on Wednesday, October 5th. Finally, Evercore ISI boosted their target price on shares of Inhibrx from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 5th.

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.