Inhibrx, Inc. (NASDAQ:INBX) Short Interest Down 19.7% in March

Inhibrx, Inc. (NASDAQ:INBX) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 955,400 shares, a decline of 19.7% from the February 28th total of 1,190,000 shares. Approximately 9.6% of the company’s stock are short sold. Based on an average daily volume of 91,300 shares, the short-interest ratio is currently 10.5 days.

Analyst Ratings Changes

Separately, JMP Securities restated a “market perform” rating on shares of Inhibrx in a report on Wednesday, January 22nd.

Hedge Funds Weigh In On Inhibrx

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. purchased a new stake in Inhibrx during the fourth quarter worth about $28,000. Natixis bought a new position in shares of Inhibrx during the 4th quarter valued at approximately $31,000. JPMorgan Chase & Co. increased its stake in shares of Inhibrx by 47.8% during the 4th quarter. JPMorgan Chase & Co. now owns 7,592 shares of the company’s stock worth $117,000 after purchasing an additional 2,457 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of Inhibrx in the 4th quarter worth approximately $47,000. Finally, New York State Common Retirement Fund purchased a new position in Inhibrx in the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Inhibrx Stock Performance

Shares of NASDAQ:INBX opened at $14.05 on Wednesday. The stock’s fifty day simple moving average is $13.37 and its two-hundred day simple moving average is $14.57. Inhibrx has a 1-year low of $10.80 and a 1-year high of $35.42.

Inhibrx (NASDAQ:INBX) last released its quarterly earnings results on Monday, March 17th. The company reported ($3.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.88) by ($0.21). The company had revenue of $0.10 million for the quarter. As a group, research analysts expect that Inhibrx will post 104.88 earnings per share for the current fiscal year.

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.