Inhibrx, Inc. (NASDAQ:INBX) Sees Large Decline in Short Interest

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

Inhibrx Stock Performance

INBX stock traded up $0.06 during midday trading on Tuesday, reaching $14.05. The company had a trading volume of 201,067 shares, compared to its average volume of 217,794. The stock has a 50 day moving average price of $13.37 and a 200 day moving average price of $14.59. Inhibrx has a fifty-two week low of $10.80 and a fifty-two week high of $35.42.

Inhibrx (NASDAQ:INBX) last released 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 company had revenue of $0.10 million during the quarter. As a group, analysts anticipate that Inhibrx will post 104.88 EPS for the current year.

Institutional Trading of Inhibrx

A number of large investors have recently modified their holdings of INBX. PNC Financial Services Group Inc. acquired a new position in Inhibrx during the 4th quarter valued at about $28,000. Natixis acquired a new position in shares of Inhibrx during the fourth quarter worth approximately $31,000. China Universal Asset Management Co. Ltd. bought a new position in Inhibrx in the 4th quarter worth approximately $47,000. New York State Common Retirement Fund acquired a new stake in Inhibrx in the 4th quarter valued at approximately $53,000. Finally, State of Wyoming bought a new stake in Inhibrx during the 4th quarter valued at $83,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.