Inhibrx, Inc. (NASDAQ:INBX) Short Interest Update

Inhibrx, Inc. (NASDAQ:INBX) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 700,700 shares, a drop of 6.9% from the August 15th total of 752,900 shares. Approximately 6.9% of the shares of the company are sold short. Based on an average trading volume of 154,100 shares, the short-interest ratio is presently 4.5 days.

Wall Street Analysts Forecast Growth

Separately, JMP Securities assumed coverage on Inhibrx in a research note on Tuesday, July 23rd. They set a “market perform” rating for the company.

Insider Transactions at Inhibrx

In other Inhibrx news, CEO Mark Lappe purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was purchased at an average price of $14.03 per share, for a total transaction of $140,300.00. Following the purchase, the chief executive officer now directly owns 135,000 shares in the company, valued at $1,894,050. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have acquired 105,679 shares of company stock worth $1,630,337. Insiders own 22.20% of the company’s stock.

Institutional Investors Weigh In On Inhibrx

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Inhibrx by 8.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 229,866 shares of the company’s stock worth $8,735,000 after purchasing an additional 17,762 shares during the period. Quadrant Capital Group LLC acquired a new stake in shares of Inhibrx during the 4th quarter valued at approximately $26,000. HCR Wealth Advisors purchased a new stake in shares of Inhibrx during the 4th quarter worth approximately $239,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Inhibrx in the 4th quarter worth approximately $894,000. Finally, Vestal Point Capital LP purchased a new position in Inhibrx in the 4th quarter valued at approximately $58,140,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Inhibrx Stock Down 1.2 %

Shares of NASDAQ:INBX opened at $17.22 on Wednesday. Inhibrx has a fifty-two week low of $10.80 and a fifty-two week high of $18.95. The firm’s 50-day simple moving average is $13.79 and its 200-day simple moving average is $23.47.

Inhibrx (NASDAQ:INBX) last released its earnings results on Tuesday, August 13th. The company reported $125.48 earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.60) by $129.08. The business had revenue of $0.10 million for the quarter. Equities research analysts expect that Inhibrx will post 87.5 EPS for the current fiscal year.

About Inhibrx

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.