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Inhibrx CEO buys $3.6 million in shares ahead of FDA decision
Inhibrx said about 28% of its public float is sold short, and the stock has fallen 17% since Phase 2 primary endpoint results were presented in early September.
Inhibrx Biosciences said its CEO deployed more than $3.6 million of personal capital to buy shares, citing weakness after clinical outperformance and amid heavy short interest. MarketBeat Ratings described the buying as a potential catalyst with a major FDA approval date approaching.
According to MarketBeat Ratings, about 28% of the public float is sold short, while investors await a decision on ozekibart.
MarketBeat Ratings also noted that in early September, Inhibrx presented primary endpoint results from the Phase 2 portion of its HexAgon study, with data that the outlet characterized as strong. Despite the results, the outlet said the stock dropped 17% over the following weeks.