Inhibrx, Inc. (NASDAQ:INBX) Sees Significant Drop in Short Interest

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

Inhibrx Trading Down 1.3 %

NASDAQ INBX opened at $16.99 on Thursday. The firm’s 50 day moving average is $13.87 and its 200-day moving average is $23.42. Inhibrx has a 12-month low of $10.80 and a 12-month high of $18.95.

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

Wall Street Analyst Weigh In

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

Insider Activity at Inhibrx

In related news, CEO Mark Lappe bought 26,963 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $15.05 per share, for a total transaction of $405,793.15. Following the acquisition, the chief executive officer now owns 692,511 shares of the company’s stock, valued at approximately $10,422,290.55. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders bought a total of 105,679 shares of company stock worth $1,630,337 in the last quarter. Corporate insiders own 22.20% of the company’s stock.

Institutional Trading of Inhibrx

A number of hedge funds and other institutional investors have recently modified their holdings of INBX. Vestal Point Capital LP acquired a new position in Inhibrx during the fourth quarter valued at approximately $58,140,000. PFM Health Sciences LP raised its stake in shares of Inhibrx by 86.4% during the 4th quarter. PFM Health Sciences LP now owns 537,964 shares of the company’s stock worth $20,443,000 after purchasing an additional 249,347 shares in the last quarter. MMCAP International Inc. SPC acquired a new stake in shares of Inhibrx in the 1st quarter valued at approximately $15,782,000. Charles Schwab Investment Management Inc. grew its stake in shares of Inhibrx by 8.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 229,866 shares of the company’s stock valued at $8,735,000 after buying an additional 17,762 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Inhibrx by 8.5% during the first quarter. Swiss National Bank now owns 42,000 shares of the company’s stock worth $1,468,000 after buying an additional 3,300 shares during the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.

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.