Published on 4 May 2023 on Zacks via Yahoo Finance
Strength Seen in Inhibrx, Inc. (INBX): Can Its 9.9% Jump Turn into More Strength?
Inhibrx, Inc. INBX shares soared 9.9% in the last trading session to close at $26.99. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 37.7% gain over the past four weeks.
The surge in the stock price is likely to be an outcome of the positive momentum built around the company's pipeline. The company is significantly progressing across pipelines in developing therapies targeting various cancer indications and alpha-1 antitrypsin deficiency.
This company is expected to post quarterly loss of $0.84 per share in its upcoming report, which represents a year-over-year change of -5%. Revenues are expected to be $0.3 million, down 67.7% from the year-ago quarter.