Viking Global Investors LP recently announced the acquisition of new stake in Inhibrx Inc (NASDAQ:INBX). The institutional investor has increased its shareholding in the Healthcare company by 7.71% to 7.15 million shares with purchase of 0.51 million shares. This fresh investment now brings its stake to 15.12% valued currently at $271.73 million. In addition, RA Capital Management LP raised its holdings by 0.87 million to 4.72 million shares. And Perceptive Advisors LLC has lifted its position by 17.44% or 0.63 million shares – to 4.26 million shares.
Currently, there are 43.56M common shares owned by the public and among those 35.52M shares have been available to trade.
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Insiders at the company have transacted a total of 11 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 511,627 shares. Insider sales of the common stock occurred on 10 occasions, with total insider shares sold totaling 84,395 shares.
The top 3 mutual fund holders in Inhibrx Inc are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and SPDR S&P Biotech ETF. Vanguard Total Stock Market ETF owns 1.1 million shares of the company’s stock, all valued at over $41.73 million. iShares Russell 2000 ETF sold 2430.0 shares to see its total holdings shrink to 0.92 million shares valued at over $34.99 million and representing 1.95% of the shares outstanding. SPDR S&P Biotech ETF sold 8850.0 shares to bring its total holdings to over 0.92 million shares at a value of $34.8 million. SPDR S&P Biotech ETF now owns shares totaling to 1.94% of the shares outstanding.
However, the script later moved the day high at 37.18, up 8.91%. The company’s stock has a 5-day price change of 3.71% and 132.25% over the past three months. INBX shares are trading -4.47% year to date (YTD), with the 12-month market performance up to 50.12% higher. It has a 12-month low price of $14.31 and touched a high of $39.50 over the same period. INBX has an average intraday trading volume of 492.95K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.63%, 30.66%, and 58.59% respectively.
Institutional ownership of Inhibrx Inc (NASDAQ: INBX) shares accounts for 77.38% of the company’s 43.56M shares outstanding. Mutual fund holders own 28.27%, while other institutional holders and individual stakeholders account for 56.07% and 21.37% respectively.
It has a market capitalization of $1.72B and a beta (3y monthly) value of 3.02. The earnings-per-share (ttm) stands at -$4.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.71% over the week and 7.25% over the month.
Analysts forecast that Inhibrx Inc (INBX) will achieve an EPS of -$1.04 for the current quarter, -$1.03 for the next quarter and -$4.12 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.08 while analysts give the company a high EPS estimate of -$0.98. Comparatively, EPS for the current quarter was -$0.95 a year ago. Earnings per share for the fiscal year are expected to decrease by -21.36%, and 6.22% over the next financial year.
