Inhibrx, Inc. (NASDAQ:INBX – Get Free Report) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 1,220,000 shares, a drop of 5.4% from the January 15th total of 1,290,000 shares. Based on an average trading volume of 86,400 shares, the days-to-cover ratio is currently 14.1 days. Approximately 12.3% of the shares of the company are short sold.
Inhibrx Stock Performance
Inhibrx stock opened at $12.85 on Thursday. Inhibrx has a 12 month low of $10.80 and a 12 month high of $18.95. The business has a 50 day simple moving average of $13.95 and a 200-day simple moving average of $14.56.
Wall Street Analysts Forecast Growth
Separately, JMP Securities reiterated a “market perform” rating on shares of Inhibrx in a research report on Wednesday, January 22nd.
Institutional Trading of Inhibrx
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sanofi purchased a new stake in shares of Inhibrx in the fourth quarter valued at approximately $17,832,000. HighTower Advisors LLC purchased a new stake in shares of Inhibrx during the fourth quarter worth approximately $12,039,000. Walleye Capital LLC purchased a new stake in shares of Inhibrx during the fourth quarter worth approximately $8,932,000. Slotnik Capital LLC purchased a new stake in shares of Inhibrx during the fourth quarter worth approximately $5,975,000. Finally, Millennium Management LLC purchased a new stake in shares of Inhibrx during the fourth quarter worth approximately $3,979,000. 82.46% of the stock is currently 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.
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