Inhibrx, Inc. (NASDAQ:INBX) Short Interest Up 9.0% in October

Inhibrx, Inc. (NASDAQ:INBX) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 976,700 shares, a growth of 9.0% from the October 15th total of 895,700 shares. Based on an average daily volume of 89,700 shares, the days-to-cover ratio is presently 10.9 days. Approximately 9.7% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

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

Insider Transactions at Inhibrx

In related news, CEO Mark Lappe acquired 10,000 shares of Inhibrx stock in a transaction on Thursday, August 29th. The shares were bought at an average cost of $14.03 per share, with a total value of $140,300.00. Following the completion of the purchase, the chief executive officer now directly owns 135,000 shares of the company’s stock, valued at $1,894,050. The trade was a 8.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have bought 105,679 shares of company stock valued at $1,630,337. 22.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in shares of Inhibrx by 8.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,812 shares of the company’s stock valued at $518,000 after buying an additional 1,112 shares during the period. Black Maple Capital Management LP purchased a new position in shares of Inhibrx during the first quarter valued at approximately $555,000. ProShare Advisors LLC boosted its position in shares of Inhibrx by 92.2% during the first quarter. ProShare Advisors LLC now owns 16,741 shares of the company’s stock valued at $585,000 after buying an additional 8,033 shares during the period. Alpine Global Management LLC purchased a new position in shares of Inhibrx during the first quarter valued at approximately $1,224,000. Finally, Swiss National Bank boosted its position in shares of Inhibrx by 8.5% during the first quarter. Swiss National Bank now owns 42,000 shares of the company’s stock valued at $1,468,000 after buying an additional 3,300 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Inhibrx Trading Down 3.5 %

NASDAQ INBX traded down $0.50 during trading hours on Friday, hitting $13.83. 178,264 shares of the company were exchanged, compared to its average volume of 51,015. The stock has a 50-day moving average price of $15.75 and a 200 day moving average price of $17.79. Inhibrx has a 52 week low of $10.80 and a 52 week high of $18.95.

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.