Short Interest in Inhibrx, Inc. (NASDAQ:INBX) Increases By 9.6%

Inhibrx, Inc. (NASDAQ:INBX - Get Free Report) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 742,500 shares, a growth of 9.6% from the September 15th total of 677,700 shares. Based on an average daily volume of 106,900 shares, the days-to-cover ratio is presently 6.9 days. Approximately 7.4% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CEO Mark Lappe bought 13,037 shares of the stock in a transaction dated Monday, September 16th. The stock was bought at an average cost of $17.13 per share, with a total value of $223,323.81. Following the completion of the acquisition, the chief executive officer now owns 705,548 shares of the company's stock, valued at $12,086,037.24. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders purchased 105,679 shares of company stock valued at $1,630,337. 22.20% of the stock is currently owned by insiders.

Institutional Trading of Inhibrx

Several institutional investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. grew its holdings in Inhibrx by 2.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 30,561 shares of the company's stock worth $1,068,000 after acquiring an additional 744 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Inhibrx by 8.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,812 shares of the company's stock worth $518,000 after purchasing an additional 1,112 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Inhibrx by 7.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,920 shares of the company's stock valued at $766,000 after purchasing an additional 1,426 shares during the last quarter. Swiss National Bank boosted 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 in the last quarter. Finally, ProShare Advisors LLC grew its position in Inhibrx by 92.2% in 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. Institutional investors and hedge funds own 82.46% of the company's stock.

Inhibrx Stock Performance

INBX traded up $0.31 on Wednesday, reaching $16.05. The company had a trading volume of 91,308 shares, compared to its average volume of 159,646. Inhibrx has a one year low of $10.80 and a one year high of $18.95. The company has a fifty day moving average of $14.63 and a 200-day moving average of $20.72.

Inhibrx (NASDAQ:INBX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $125.48 EPS for the quarter, beating analysts' consensus estimates of ($3.60) by $129.08. The company had revenue of $0.10 million for the quarter. On average, sell-side analysts anticipate that Inhibrx will post 87.5 earnings per share for the current fiscal year.

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.