Inhibrx, Inc. (NASDAQ:INBX) Sees Significant Decline in Short Interest

Inhibrx, Inc. (NASDAQ:INBX) was the target of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,220,000 shares, a decline of 5.4% from the January 15th total of 1,290,000 shares. Based on an average daily volume of 86,400 shares, the days-to-cover ratio is currently 14.1 days. Approximately 12.3% of the company’s stock are short sold.

Analysts Set New Price Targets

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

Inhibrx Price Performance

Shares of INBX opened at $13.39 on Tuesday. Inhibrx has a 1-year low of $10.80 and a 1-year high of $18.95. The company’s fifty day moving average price is $14.01 and its 200-day moving average price is $14.58.

Institutional Investors Weigh In On Inhibrx

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new stake in shares of Inhibrx during the fourth quarter valued at $28,000. Natixis purchased a new stake in Inhibrx in the fourth quarter valued at $31,000. China Universal Asset Management Co. Ltd. purchased a new stake in Inhibrx in the fourth quarter valued at $47,000. New York State Common Retirement Fund purchased a new stake in Inhibrx in the fourth quarter valued at $53,000. Finally, State of Wyoming purchased a new stake in Inhibrx in the fourth quarter valued at $83,000. 82.46% of the stock is owned by hedge funds and other institutional investors.

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.