Inhibrx (NASDAQ:INBX) Earns Market Perform Rating from Analysts at JMP Securities

JMP Securities began coverage on shares of Inhibrx (NASDAQ:INBX) in a report published on Tuesday morning, Marketbeat reports. The brokerage issued a market perform rating on the stock.

Inhibrx Price Performance

Shares of NASDAQ INBX opened at $13.43 on Tuesday. The business has a 50-day simple moving average of $18.57 and a two-hundred day simple moving average of $29.75. Inhibrx has a fifty-two week low of $12.61 and a fifty-two week high of $18.95.

Insiders Place Their Bets

In related news, insider Brendan P. Eckelman sold 300,000 shares of Inhibrx stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $34.30, for a total transaction of $10,290,000.00. Following the completion of the sale, the insider now owns 1,735,553 shares of the company’s stock, valued at $59,529,467.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jon Faiz Kayyem bought 57,549 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was purchased at an average price of $17.32 per share, with a total value of $996,748.68. Following the completion of the acquisition, the director now directly owns 1,150,410 shares of the company’s stock, valued at approximately $19,925,101.20. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brendan P. Eckelman sold 300,000 shares of Inhibrx stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $34.30, for a total value of $10,290,000.00. Following the sale, the insider now directly owns 1,735,553 shares of the company’s stock, valued at approximately $59,529,467.90. The disclosure for this sale can be found here. Corporate insiders own 22.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of INBX. Quadrant Capital Group LLC acquired a new position in Inhibrx in the fourth quarter valued at approximately $26,000. AJOVista LLC acquired a new position in Inhibrx in the fourth quarter valued at approximately $26,000. Signaturefd LLC lifted its holdings in Inhibrx by 4,637.5% in the fourth quarter. Signaturefd LLC now owns 758 shares of the company’s stock valued at $29,000 after acquiring an additional 742 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Inhibrx by 389.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 5,471 shares of the company’s stock valued at $208,000 after acquiring an additional 4,354 shares during the period. Finally, E Fund Management Co. Ltd. acquired a new position in Inhibrx in the fourth quarter valued at approximately $209,000. 82.46% of the stock is owned by institutional investors and hedge funds.

Inhibrx Company Profile

Inhibrx, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidate includes 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.