Short Interest in Inhibrx, Inc. (NASDAQ:INBX) Declines By 19.7%

Inhibrx, Inc. (NASDAQ:INBX) was the recipient of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 955,400 shares, a decrease of 19.7% from the February 28th total of 1,190,000 shares. Approximately 9.6% of the company’s stock are sold short. Based on an average trading volume of 91,300 shares, the days-to-cover ratio is currently 10.5 days.

Wall Street Analyst Weigh In

Separately, JMP Securities reissued a “market perform” rating on shares of Inhibrx in a research report on Wednesday, January 22nd.

Inhibrx Stock Down 1.4 %

NASDAQ:INBX opened at $14.12 on Monday. Inhibrx has a 52-week low of $10.80 and a 52-week high of $35.42. The stock’s 50-day simple moving average is $13.36 and its 200 day simple moving average is $14.60.

Inhibrx (NASDAQ:INBX) last announced its quarterly earnings data on Monday, March 17th. The company reported ($3.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.88) by ($0.21). The firm had revenue of $0.10 million during the quarter. On average, analysts expect that Inhibrx will post 104.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inhibrx

Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. bought a new position in Inhibrx in the 4th quarter valued at about $28,000. Natixis acquired a new stake in Inhibrx during the 4th quarter worth approximately $31,000. JPMorgan Chase & Co. boosted its stake in Inhibrx by 47.8% in the 4th quarter. JPMorgan Chase & Co. now owns 7,592 shares of the company’s stock valued at $117,000 after purchasing an additional 2,457 shares during the period. China Universal Asset Management Co. Ltd. bought a new stake in Inhibrx in the 4th quarter valued at $47,000. Finally, New York State Common Retirement Fund bought a new position in Inhibrx during the 4th quarter worth $53,000. 82.46% of the stock is owned by institutional investors.

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.