Short Interest in Inhibrx, Inc. (NASDAQ:INBX) Grows By 9.6%

Inhibrx, Inc. (NASDAQ:INBX) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 742,500 shares, an increase of 9.6% from the September 15th total of 677,700 shares. Based on an average trading volume of 106,900 shares, the days-to-cover ratio is currently 6.9 days. Approximately 7.4% of the company’s shares are sold short.

Insider Buying and Selling

In other news, CEO Mark Lappe acquired 20,000 shares of Inhibrx stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $15.81 per share, with a total value of $316,200.00. Following the purchase, the chief executive officer now owns 165,000 shares in the company, valued at $2,608,650. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have purchased a total of 105,679 shares of company stock valued at $1,630,337 over the last ninety days. 22.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Inhibrx

A number of institutional investors have recently modified their holdings of INBX. Entropy Technologies LP bought a new stake in Inhibrx during the 1st quarter valued at $384,000. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Inhibrx by 2.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 30,561 shares of the company’s stock valued at $1,068,000 after buying an additional 744 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Inhibrx by 7.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,920 shares of the company’s stock worth $766,000 after acquiring an additional 1,426 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Inhibrx by 8.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,812 shares of the company’s stock worth $518,000 after acquiring an additional 1,112 shares during the last quarter. Finally, FORA Capital LLC bought a new position in Inhibrx in the 1st quarter valued at about $563,000. 82.46% of the stock is owned by institutional investors and hedge funds.

Inhibrx Trading Up 2.0 %

Shares of NASDAQ INBX opened at $16.05 on Thursday. The firm’s 50-day moving average price is $14.72 and its 200-day moving average price is $20.69. Inhibrx has a 1-year low of $10.80 and a 1-year high of $18.95.

Inhibrx (NASDAQ:INBX) last issued its earnings results on Tuesday, August 13th. The company reported $125.48 EPS for the quarter, beating analysts’ consensus estimates of ($3.60) by $129.08. The firm had revenue of $0.10 million during the quarter. On average, analysts predict that Inhibrx will post 87.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, JMP Securities started coverage on Inhibrx in a report on Tuesday, July 23rd. They set a “market perform” rating on the stock.

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.