Inhibrx Biosciences
INBX on Nasdaq. Biological products, (no diagnostic substances). Market value $1.4bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-9.59 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$93.41 a share, 232% above its 1-year low
Over the past year the price has ranged from $28.16 to $155.29.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | ||
| Revenue | $200,000 | $1m |
| Operating margin | ||
| Operating margin | -165724.0% | -10386.5% |
| Debt to equity | ||
| Debt to equity | 0.00 | 12.58 |
| Shares outstanding | ||
| Shares outstanding | 0.01bn | 0.01bn |
Health checks
- Free cash flow positive0 of 2 years
- Accounting checksSkipped: company is not yet profitable
- Debt12.58× equity
- Revenue growth, five yearsUnknown
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $0 last quarter, down 100% on a year ago.
- A loss of $37 million, compared with a loss of $29 million a year ago.
- Over the past 12 months it spent $132 million more cash than it brought in, compared with $140 million a year earlier.
- 1% more shares than a year ago. Each share owns a bit less of the company.
- Debt is $43 million more than cash. A year ago it had $87 million more cash than debt.
| Quarter to | Amount |
|---|---|
| September 2024 | $0 |
| December 2024 | $100,000 |
| March 2025 | $0 |
| June 2025 | $1m |
| September 2025 | $0 |
| December 2025 | $0 |
| March 2026 | Not reported |
| June 2026 | $0 |
| Quarter to | Amount |
|---|---|
| September 2024 | -$44m |
| December 2024 | -$48m |
| March 2025 | -$43m |
| June 2025 | -$29m |
| September 2025 | -$35m |
| December 2025 | -$33m |
| March 2026 | -$33m |
| June 2026 | -$37m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 19 March 2026
- Next quarterly (estimated, 10-Q)
- 12 November 2026
Who owns it
2 long-term investors we follow own it, up from 1 last quarter. 163 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Viking Global InvestorsAndreas Halvorsen | $106m | 0.3% | Cut |
| Platinum Investment ManagementPlatinum team | $582,334 | 0.1% | New |
Largest holders overall
- Morgan Stanley$124mAdded
- Perceptive Advisors$123mCut
- Sanofi$110m
- Viking Global Investors$106mCut
- HighTower Advisors$82m
- Bank of America$80mAdded
- BlackRock$78mAdded
- Schonfeld Strategic Advisors$66mAdded
- State Street$61mAdded
- Vanguard Capital Management$47m
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
9 investors own more than 5%.
- Perceptive Advisors LLCPassive investorat least 10.0%0.0 pts(filed with 2 related holders)Since 30 June 2026
- Ott David C.Passive investor10.0%Since 31 December 2025
- Viking Global InvestorsPassive investorat least 9.3%−0.7 pts(filed with 10 related holders)Since 30 June 2026
- Morgan StanleyPassive investorat least 7.9%(filed with 1 related holder)Since 31 December 2025
- Jon Faiz KayyemInsider or founderat least 7.9%(filed with 1 related holder)Since 3 June 2024
- Mark LappeInsider or founder6.4%Since 12 September 2024
- BANK OF AMERICA CORP /DE/Passive investor5.9%Since 30 June 2026
- Schonfeld Strategic Advisors LLCPassive investor5.3%Since 30 June 2026
- BlackRock, Inc.Passive investor5.3%+0.6 ptsSince 31 December 2025
| Holder | Stake | Since | |
|---|---|---|---|
Perceptive Advisors LLC Passive investor | at least 10.0%0.0 pts (filed with 2 related holders) | 30 June 2026 | |
Ott David C. Passive investor | 10.0% | 31 December 2025 | |
Viking Global Investors Passive investor | at least 9.3%−0.7 pts (filed with 10 related holders) | 30 June 2026 | |
Morgan Stanley Passive investor | at least 7.9% (filed with 1 related holder) | 31 December 2025 | |
Jon Faiz Kayyem Insider or founder | at least 7.9% (filed with 1 related holder) | 3 June 2024 | |
Mark Lappe Insider or founder | 6.4% | 12 September 2024 | |
BANK OF AMERICA CORP /DE/ Passive investor | 5.9% | 30 June 2026 | |
Schonfeld Strategic Advisors LLC Passive investor | 5.3% | 30 June 2026 | |
BlackRock, Inc. Passive investor | 5.3%+0.6 pts | 31 December 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
In the last 12 months, 3 insiders bought $5m of shares on the open market. 1 sold $279,010.
- Lappe MarkChief Executive Officer, DirectorBought
- Date
- 28 September 2026
- Shares
- 4,500
- Price
- $100.76
- Value
- $453,426
- Lappe MarkChief Executive Officer, DirectorBought
- Date
- 25 September 2026
- Shares
- 5,500
- Price
- $99.16
- Value
- $545,357
- Kayyem Jon FaizDirectorBought
- Date
- 23 September 2026
- Shares
- 5,000
- Price
- $100.00
- Value
- $500,000
- Kayyem Jon FaizDirectorBought
- Date
- 16 September 2026
- Shares
- 5,000
- Price
- $100.00
- Value
- $500,000
- MANHARD KIMBERLYDirectorSold
- Date
- 15 September 2026
- Shares
- 500
- Price
- $105.05
- Value
- $52,525
- MANHARD KIMBERLYDirectorSold
- Date
- 14 September 2026
- Shares
- 500
- Price
- $110.26
- Value
- $55,130
- MANHARD KIMBERLYDirectorSold
- Date
- 11 September 2026
- Shares
- 500
- Price
- $111.78
- Value
- $55,888
- MANHARD KIMBERLYDirectorSold
- Date
- 9 September 2026
- Shares
- 500
- Price
- $115.80
- Value
- $57,898
- MANHARD KIMBERLYDirectorSold
- Date
- 8 September 2026
- Shares
- 500
- Price
- $115.14
- Value
- $57,570
- Kayyem Jon FaizDirectorBought
- Date
- 8 September 2026
- Shares
- 5,000
- Price
- $113.52
- Value
- $567,580
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 28 September 2026 | Lappe Mark Chief Executive Officer, Director | Bought | 4,500 | $100.76 | $453,426 |
| 25 September 2026 | Lappe Mark Chief Executive Officer, Director | Bought | 5,500 | $99.16 | $545,357 |
| 23 September 2026 | Kayyem Jon Faiz Director | Bought | 5,000 | $100.00 | $500,000 |
| 16 September 2026 | Kayyem Jon Faiz Director | Bought | 5,000 | $100.00 | $500,000 |
| 15 September 2026 | MANHARD KIMBERLY Director | Sold | 500 | $105.05 | $52,525 |
| 14 September 2026 | MANHARD KIMBERLY Director | Sold | 500 | $110.26 | $55,130 |
| 11 September 2026 | MANHARD KIMBERLY Director | Sold | 500 | $111.78 | $55,888 |
| 9 September 2026 | MANHARD KIMBERLY Director | Sold | 500 | $115.80 | $57,898 |
| 8 September 2026 | MANHARD KIMBERLY Director | Sold | 500 | $115.14 | $57,570 |
| 8 September 2026 | Kayyem Jon Faiz Director | Bought | 5,000 | $113.52 | $567,580 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 19 Mar 2026, plus the 10-Q filed 13 Aug 2026 and 9 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It carries a lot of debt: 12.6× its equity.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.