Inhibrx, Inc. (NASDAQ:INBX) Short Interest Update

Inhibrx, Inc. (NASDAQ:INBX) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 976,700 shares, an increase of 9.0% from the October 15th total of 895,700 shares. Based on an average daily volume of 89,700 shares, the days-to-cover ratio is presently 10.9 days. Approximately 9.7% of the shares of the company are sold short.

Inhibrx Price Performance

INBX opened at $13.62 on Tuesday. Inhibrx has a 52-week low of $10.80 and a 52-week high of $18.95. The business’s fifty day moving average is $15.75 and its 200-day moving average is $17.67.

Insiders Place Their Bets

In related news, CEO Mark Lappe purchased 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $15.81 per share, with a total value of $316,200.00. Following the acquisition, the chief executive officer now directly owns 165,000 shares in the company, valued at $2,608,650. The trade was a 13.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders purchased a total of 105,679 shares of company stock valued at $1,630,337 over the last ninety days. 22.20% of the stock is currently owned by company insiders.

Institutional Trading of Inhibrx

Several institutional investors have recently modified their holdings of the business. 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 valued at $518,000 after buying an additional 1,112 shares during the period. Black Maple Capital Management LP acquired a new position in Inhibrx in the first quarter valued at approximately $555,000. ProShare Advisors LLC boosted its holdings in shares of Inhibrx by 92.2% during the 1st quarter. ProShare Advisors LLC now owns 16,741 shares of the company’s stock worth $585,000 after buying an additional 8,033 shares in the last quarter. Alpine Global Management LLC acquired a new stake in shares of Inhibrx during the 1st quarter worth approximately $1,224,000. Finally, Swiss National Bank increased its stake in shares of Inhibrx by 8.5% in the 1st quarter. Swiss National Bank now owns 42,000 shares of the company’s stock valued at $1,468,000 after acquiring an additional 3,300 shares in the last quarter. Institutional investors own 82.46% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities began coverage on Inhibrx in a report on Tuesday, July 23rd. They set a “market perform” rating for the company.

About Inhibrx

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.