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

Inhibrx, Inc. (NASDAQ:INBX) was the recipient of a large increase in short interest during 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. Approximately 9.7% of the shares of the company are sold short. Based on an average daily volume of 89,700 shares, the days-to-cover ratio is currently 10.9 days.

Insider Buying and Selling

In related news, CEO Mark Lappe purchased 13,037 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average price of $17.13 per share, with a total value of $223,323.81. Following the purchase, the chief executive officer now directly owns 705,548 shares in the company, valued at $12,086,037.24. This represents a 1.88 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders purchased 105,679 shares of company stock worth $1,630,337. 22.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of INBX. Price T Rowe Associates Inc. MD increased its holdings in Inhibrx by 8.1% during 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. Black Maple Capital Management LP bought a new position in Inhibrx in the first quarter valued at $555,000. ProShare Advisors LLC raised its stake in shares of Inhibrx by 92.2% during the first quarter. ProShare Advisors LLC now owns 16,741 shares of the company’s stock valued at $585,000 after acquiring an additional 8,033 shares during the last quarter. Alpine Global Management LLC purchased a new position in shares of Inhibrx during the first quarter valued at about $1,224,000. Finally, Swiss National Bank boosted its stake 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 acquiring an additional 3,300 shares in the last quarter. 82.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Inhibrx Stock Performance

Shares of INBX traded down $0.21 during mid-day trading on Monday, reaching $13.62. The company’s stock had a trading volume of 91,094 shares, compared to its average volume of 140,154. Inhibrx has a 1-year low of $10.80 and a 1-year high of $18.95. The business has a 50-day simple moving average of $15.75 and a two-hundred day simple moving average of $17.67.

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.