Inhibrx, Inc. (NASDAQ:INBX) Short Interest Up 8.5% in February

Inhibrx, Inc. (NASDAQ:INBX – Get Rating) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 5,620,000 shares, an increase of 8.5% from the February 13th total of 5,180,000 shares. Approximately 19.1% of the shares of the company are short sold. Based on an average daily trading volume, of 436,600 shares, the days-to-cover ratio is currently 12.9 days.

Analyst Upgrades and Downgrades

INBX has been the topic of a number of analyst reports. JMP Securities decreased their price objective on Inhibrx from $40.00 to $35.00 and set a “market outperform” rating on the stock in a research note on Wednesday, March 8th. Credit Suisse Group restated an “outperform” rating and issued a $46.00 target price on shares of Inhibrx in a research note on Tuesday, March 7th.

Inhibrx Stock Down 6.8 %

Shares of NASDAQ INBX opened at $21.02 on Friday. The company has a debt-to-equity ratio of 3.54, a quick ratio of 10.17 and a current ratio of 10.17. The stock’s 50-day simple moving average is $23.95 and its two-hundred day simple moving average is $24.95. Inhibrx has a twelve month low of $7.67 and a twelve month high of $34.72.

Insider Buying and Selling at Inhibrx

In other Inhibrx news, CEO Mark Lappe sold 26,000 shares of the business’s stock in a transaction on Monday, December 19th. The stock was sold at an average price of $25.56, for a total value of $664,560.00. Following the sale, the chief executive officer now directly owns 2,512,252 shares in the company, valued at $64,213,161.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Mark Lappe sold 26,000 shares of the business’s stock in a transaction on Monday, December 19th. The stock was sold at an average price of $25.56, for a total transaction of $664,560.00. Following the sale, the chief executive officer now directly owns 2,512,252 shares in the company, valued at approximately $64,213,161.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brendan P. Eckelman sold 32,895 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $23.77, for a total value of $781,914.15. Following the sale, the insider now owns 2,122,658 shares in the company, valued at $50,455,580.66. The disclosure for this sale can be found here. Insiders have sold a total of 128,310 shares of company stock worth $3,203,546 over the last ninety days. 25.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Inhibrx

Institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd increased its stake in Inhibrx by 154.6% in the 2nd quarter. Point72 Hong Kong Ltd now owns 2,879 shares of the company’s stock worth $33,000 after acquiring an additional 1,748 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Inhibrx by 633.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,346 shares of the company’s stock worth $47,000 after purchasing an additional 2,026 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Inhibrx by 418.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,704 shares of the company’s stock worth $66,000 after purchasing an additional 2,989 shares in the last quarter. Quantbot Technologies LP boosted its holdings in shares of Inhibrx by 90.8% in the 2nd quarter. Quantbot Technologies LP now owns 5,915 shares of the company’s stock worth $67,000 after purchasing an additional 2,815 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Inhibrx by 52.7% in the 2nd quarter. Legal & General Group Plc now owns 8,383 shares of the company’s stock worth $95,000 after purchasing an additional 2,892 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

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.