Inhibrx (NASDAQ:INBX) Posts Quarterly Earnings Results, Beats Estimates By $129.08 EPS

Inhibrx (NASDAQ:INBX) announced its quarterly earnings results on Tuesday. The company reported $125.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.60) by $129.08, Yahoo Finance reports. The business had revenue of $0.10 million for the quarter.

Inhibrx Price Performance

Shares of NASDAQ INBX traded up $0.03 during mid-day trading on Wednesday, reaching $11.33. 4,256 shares of the company traded hands, compared to its average volume of 202,107. Inhibrx has a fifty-two week low of $10.80 and a fifty-two week high of $18.95. The stock has a fifty day simple moving average of $14.01 and a 200-day simple moving average of $27.59.

Insider Buying and Selling

In related news, insider Brendan P. Eckelman sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $34.30, for a total transaction of $10,290,000.00. Following the completion of the transaction, the insider now owns 1,735,553 shares of the company’s stock, valued at $59,529,467.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Brendan P. Eckelman sold 300,000 shares of Inhibrx stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $34.30, for a total value of $10,290,000.00. Following the transaction, the insider now owns 1,735,553 shares of the company’s stock, valued at approximately $59,529,467.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jon Faiz Kayyem bought 57,549 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average cost of $17.32 per share, with a total value of $996,748.68. Following the completion of the purchase, the director now owns 1,150,410 shares of the company’s stock, valued at $19,925,101.20. The disclosure for this purchase can be found here. 22.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, JMP Securities assumed coverage on shares of Inhibrx in a research note on Tuesday, July 23rd. They set a “market perform” rating on the stock.

Inhibrx Company Profile

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.