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

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

Analyst Upgrades and Downgrades

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

Inhibrx Stock Performance

Shares of INBX stock opened at $14.05 on Wednesday. The firm’s 50 day moving average is $13.37 and its 200 day moving average is $14.57. Inhibrx has a 12 month low of $10.80 and a 12 month high of $35.42.

Inhibrx (NASDAQ:INBX) last issued its earnings results 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 business had revenue of $0.10 million for the quarter. On average, equities research analysts predict that Inhibrx will post 104.88 earnings per share for the current year.

Institutional Trading of Inhibrx

Hedge funds and other institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. bought a new position in Inhibrx in the 4th quarter worth about $28,000. Natixis purchased a new stake in shares of Inhibrx in the fourth quarter worth about $31,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Inhibrx in the fourth quarter valued at approximately $47,000. New York State Common Retirement Fund purchased a new position in Inhibrx during the fourth quarter valued at approximately $53,000. Finally, State of Wyoming bought a new stake in Inhibrx during the 4th quarter worth approximately $83,000. 82.46% of the stock is currently owned by institutional investors.

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.