Bank of New York Mellon Corp Makes New Investment in Inhibrx, Inc. (NASDAQ:INBX)

Bank of New York Mellon Corp bought a new stake in shares of Inhibrx, Inc. (NASDAQ:INBX) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 51,445 shares of the company’s stock, valued at approximately $792,000.

Other large investors also recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in Inhibrx in the fourth quarter valued at about $148,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in Inhibrx during the fourth quarter worth about $348,000. China Universal Asset Management Co. Ltd. bought a new position in Inhibrx in the 4th quarter valued at about $47,000. Rhumbline Advisers acquired a new position in shares of Inhibrx in the 4th quarter valued at approximately $228,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Inhibrx during the 4th quarter worth approximately $53,000. 82.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Inhibrx Price Performance

Inhibrx stock opened at $14.22 on Wednesday. Inhibrx, Inc. has a 52 week low of $10.80 and a 52 week high of $35.42. The stock has a fifty day moving average of $13.32 and a 200-day moving average of $14.62.

Inhibrx (NASDAQ:INBX) last issued its earnings results on Monday, March 17th. The company reported ($3.09) EPS for the quarter, missing the consensus estimate of ($2.88) by ($0.21). The business had revenue of $0.10 million during the quarter. On average, sell-side analysts anticipate that Inhibrx, Inc. 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.