Why Inhibrx's Stock Is Trading Higher Today

Inhibrx (NASDAQ: INBX) shares are trading higher on Monday after multiple firms initiated coverage on the stock with a bullish rating.

Inhibrx is a clinical-stage biotechnology company focused on developing a pipeline of novel biologic therapeutic candidates. It combines an understanding of target biology with protein engineering, proprietary discovery technologies, and an integrative approach to research and development to design differentiated therapeutic candidates.

Inhibrx shares were trading up 6.49% at $8.21 on Monday during the time of publication. The stock has a 52-week high of $26.98 and a 52-week low of $15.76.