Inhibrx CEO buys shares worth over $629k

In a recent move that has caught the attention of investors, Mark Lappe, the Chief Executive Officer of Inhibrx Biosciences, Inc. (NASDAQ:INBX), has made significant purchases of the company's stock. According to the latest filings, Lappe acquired shares with a total value exceeding $629,000.


The transactions, which took place on September 12 and September 16, involved the purchase of 26,963 and 13,037 shares at weighted-average prices of $15.05 and $17.13 respectively. These purchases were made in multiple transactions, with prices for the September 12 acquisition ranging from $15.00 to $15.10 and the September 16 purchase ranging from $16.70 to $17.695.


Following these acquisitions, the CEO's direct holdings in Inhibrx Biosciences have increased significantly. The shares are owned through the Lappe Family Trust, of which Mark Lappe is a trustee. This positions him to indirectly beneficially own the securities held by the trust.


This financial activity by a key executive is often scrutinized by market analysts and investors as it may reflect the leadership's confidence in the company's future prospects. Inhibrx Biosciences, a company specializing in biological products, has not made any official statements regarding these transactions or their implications for the company's strategy moving forward.


Investors and followers of Inhibrx Biosciences will be keeping a close eye on the company's performance and any further transactions that may provide insight into the executive team's perspective on the firm's valuation and potential.



In other recent news, Inhibrx Inc. has been rated 'Market Perform' by JMP Securities following its acquisition by pharmaceutical titan, Sanofi (NASDAQ:SNY ). The deal, which saw Sanofi purchase INBRX-101, a treatment for alpha-1 antitrypsin deficiency (AATD), was valued at approximately $2.2 billion. This acquisition led to the formation of Inhibrx Biosciences, a new entity with a robust financial foundation of $255.4 million in proforma cash, inclusive of an 8% equity investment from Sanofi.


Inhibrx Biosciences is now strategically positioned to focus on advancing its remaining assets, most notably its drug candidates ozekibart (INBRX-109) and INBRX-106. These drugs, a tetravalent DR5 agonist and a hexavalent OR40 agonist respectively, are at the forefront of Inhibrx's development pipeline. JMP Securities notes that the company's solid capitalization is expected to support the progression of these drug candidates towards significant clinical readouts anticipated in 2025.


These recent developments underscore the transition that Inhibrx has undergone following the deal with Sanofi, which has not only infused substantial capital but also streamlined the company's focus on its leading therapeutic candidates. The 'Market Perform' rating indicates a neutral outlook on the company's stock as Inhibrx Biosciences embarks on its development journey with a strengthened balance sheet and a refined scope of research and development activities.
InvestingPro Insights


In light of the recent stock purchases by Inhibrx Biosciences, Inc.'s (NASDAQ:INBX) CEO Mark Lappe, investors may find additional context in the company's financial metrics and market performance. The InvestingPro data reveals a market capitalization of approximately $237.55 million, suggesting a modest size within the biotech sector. Remarkably, the company has exhibited a significant return over the last week, with a 7.96% increase in its stock price, and an even more impressive 31.7% surge over the past month.


An InvestingPro Tip worth noting is that Inhibrx has a very low P/E ratio of 0.14, which could indicate that the stock is undervalued relative to its earnings. Another relevant InvestingPro Tip is that despite weak gross profit margins, the company has liquid assets that exceed its short-term obligations, which may provide some financial stability and flexibility.


For investors seeking a deeper dive into Inhibrx's financial health and future prospects, there are additional InvestingPro Tips available, providing further insights into the company's operational and financial strategies.


It's important to note that Inhibrx does not pay dividends, which could be a factor for income-focused investors to consider. The CEO's recent stock purchases could be interpreted as a sign of confidence in the company's trajectory, aligning with the strong return over the last month highlighted in the InvestingPro data.


Investors interested in Inhibrx Biosciences can explore more tips and data on the company by visiting the InvestingPro platform, where a total of 8 InvestingPro Tips are available, offering a comprehensive analysis of the firm's financial position and market performance.

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Source: Investing.com