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

Inhibrx, Inc. (NASDAQ:INBX) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 976,700 shares, an increase of 9.0% from the October 15th total of 895,700 shares. Approximately 9.7% of the company’s stock are sold short. Based on an average daily trading volume, of 89,700 shares, the short-interest ratio is currently 10.9 days.

Insiders Place Their Bets

In related news, CEO Mark Lappe acquired 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average cost of $15.81 per share, with a total value of $316,200.00. Following the acquisition, the chief executive officer now owns 165,000 shares of the company’s stock, valued at approximately $2,608,650. This trade represents a 13.79 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders have acquired 105,679 shares of company stock worth $1,630,337. Insiders own 22.20% of the company’s stock.

Hedge Funds Weigh In On Inhibrx

A number of hedge funds and other institutional investors have recently modified their holdings of INBX. Price T Rowe Associates Inc. MD lifted its holdings in Inhibrx by 8.1% during the first 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 period. Black Maple Capital Management LP purchased a new stake in shares of Inhibrx during the 1st quarter valued at $555,000. ProShare Advisors LLC raised its stake in shares of Inhibrx by 92.2% during the 1st quarter. ProShare Advisors LLC now owns 16,741 shares of the company’s stock worth $585,000 after purchasing an additional 8,033 shares during the period. Alpine Global Management LLC purchased a new position in shares of Inhibrx in the 1st quarter worth about $1,224,000. Finally, Swiss National Bank grew its position in Inhibrx by 8.5% during the first quarter. Swiss National Bank now owns 42,000 shares of the company’s stock valued at $1,468,000 after buying an additional 3,300 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Inhibrx Stock Performance

Inhibrx stock opened at $13.62 on Tuesday. 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 $15.75 and its 200 day simple moving average is $17.67.

Wall Street Analysts Forecast Growth

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

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.