Russell Investments Group Ltd. Purchases 118,467 Shares of Inhibrx, Inc. (NASDAQ:INBX)

Russell Investments Group Ltd. increased its position in shares of Inhibrx, Inc. (NASDAQ:INBX) by 102.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,917 shares of the company’s stock after purchasing an additional 118,467 shares during the quarter. Russell Investments Group Ltd.’s holdings in Inhibrx were worth $7,791,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE raised its stake in Inhibrx by 5.4% during the second quarter. Bank of America Corp DE now owns 7,792 shares of the company’s stock worth $214,000 after acquiring an additional 401 shares in the last quarter. Parametric Portfolio Associates LLC raised its stake in Inhibrx by 2.4% during the second quarter. Parametric Portfolio Associates LLC now owns 34,777 shares of the company’s stock worth $957,000 after acquiring an additional 817 shares in the last quarter. Citigroup Inc. raised its stake in Inhibrx by 135.9% during the second quarter. Citigroup Inc. now owns 1,503 shares of the company’s stock worth $41,000 after acquiring an additional 866 shares in the last quarter. Royal Bank of Canada raised its stake in Inhibrx by 103.5% during the second quarter. Royal Bank of Canada now owns 2,316 shares of the company’s stock worth $65,000 after acquiring an additional 1,178 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Inhibrx by 12.9% during the second quarter. Wells Fargo & Company MN now owns 11,497 shares of the company’s stock worth $316,000 after acquiring an additional 1,314 shares in the last quarter. 53.89% of the stock is owned by institutional investors and hedge funds.

INBX has been the subject of several research analyst reports. Credit Suisse Group boosted their target price on Inhibrx from $44.00 to $53.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 10th. Zacks Investment Research downgraded Inhibrx from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, JMP Securities reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Inhibrx in a research note on Wednesday, January 5th.

Inhibrx stock opened at $31.48 on Friday. The business has a 50 day moving average of $40.88 and a 200-day moving average of $35.14. Inhibrx, Inc. has a 1 year low of $14.27 and a 1 year high of $47.90. The company has a debt-to-equity ratio of 2.68, a current ratio of 4.73 and a quick ratio of 4.73. The company has a market capitalization of $1.19 billion, a P/E ratio of -15.21 and a beta of 2.26.

Inhibrx (NASDAQ:INBX) last released its quarterly earnings data on Tuesday, November 9th. The company reported ($0.54) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.60) by $0.06. Inhibrx had a negative return on equity of 150.02% and a negative net margin of 1,093.94%. The company had revenue of $2.53 million during the quarter, compared to the consensus estimate of $1.00 million. Equities analysts anticipate that Inhibrx, Inc. will post -2.07 EPS for the current year.

About Inhibrx

Inhibrx, Inc, a clinical-stage biotechnology company, focuses on developing a pipeline of novel biologic therapeutic candidates. Its therapeutic candidates include INBRX-109, a tetravalent agonist of death receptor 5, which is in Phase 1 clinical trials in patients with solid tumors, including sarcoma; and INBRX-105, an tetravalent conditional agonist of programmed death ligand 1 (PD-L1) and a conditional agonist of 4-1BB that is in Phase 1 clinical trials to treat patients with PD-L1 expressing tumors.

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Institutional Ownership by Quarter for Inhibrx (NASDAQ:INBX)

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