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

Inhibrx, Inc. (NASDAQ:INBX - Get Free Report) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 976,700 shares, a growth of 9.0% from the October 15th total of 895,700 shares. Approximately 9.7% of the shares of the stock are sold short. Based on an average trading volume of 89,700 shares, the short-interest ratio is presently 10.9 days.

Inhibrx Price Performance

NASDAQ:INBX traded down $0.50 during trading hours on Friday, hitting $13.83. 178,264 shares of the stock traded hands, compared to its average volume of 51,015. The firm has a 50 day moving average price of $15.75 and a 200 day moving average price of $17.79. Inhibrx has a fifty-two week low of $10.80 and a fifty-two week high of $18.95.

Insider Activity

In other news, CEO Mark Lappe bought 9,500 shares of the business's stock in a transaction on Monday, September 9th. The shares were bought at an average cost of $15.21 per share, with a total value of $144,495.00. Following the purchase, the chief executive officer now directly owns 657,048 shares in the company, valued at $9,993,700.08. This trade represents a 1.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders purchased 105,679 shares of company stock worth $1,630,337. Insiders own 22.20% of the company's stock.

Institutional Trading of Inhibrx

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Inhibrx by 8.1% in 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 last quarter. Black Maple Capital Management LP acquired a new position in Inhibrx during the first quarter worth $555,000. ProShare Advisors LLC increased its position in Inhibrx by 92.2% during the first quarter. ProShare Advisors LLC now owns 16,741 shares of the company's stock worth $585,000 after buying an additional 8,033 shares during the last quarter. Alpine Global Management LLC acquired a new position in Inhibrx during the first quarter worth $1,224,000. Finally, Swiss National Bank increased its position 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. 82.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, JMP Securities started coverage on shares of Inhibrx in a research note on Tuesday, July 23rd. They set a "market perform" rating on the stock.

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.