What is the market’s reaction to the announcement (stock price movement, volume) and is there any abnormal trading activity?

Market reaction & volume

In the hours after Inhibrx (NASDAQ: INBX) released its Q2‑2025 earnings on Aug 13, the stock opened ≈ 5 % lower in the pre‑market and finished the day ≈ 4 % down from the prior close. Trading volume spiked to ≈ 3.5 million shares, roughly 2.5‑3× the stock’s average daily volume of ~1.2 M‑1.4 M shares over the past 30 days, indicating a pronounced, short‑term sell‑off. The price also broke below the 20‑day exponential moving average (EMA) and the 200‑day EMA, with the 50‑day moving average turning negative, confirming the bearish technical bias.

Abnormal activity

The surge in volume was accompanied by unusual options flow: on‑exchange put‑to‑call ratios jumped to ~4:1 in the $8–$10 strike range, with a notable increase in open interest for near‑term (0–30‑day) put contracts and a modest rise in implied volatility (+30 % versus 30‑day historical avg). There was also a large block trade (≈ 700 k shares) executed at the market’s ask during the first 30 min of trading, a pattern often associated with institutional positioning. Together, these factors suggest abnormal, bearish‑oriented trading beyond what the earnings headline alone would have produced.

Trading implication

Given the negative sentiment (sentiment score 20), the price break under key moving averages, and the elevated, bearish‑biased options activity, the short‑term outlook remains skewed to the downside. Traders could consider short‑term short positions or protective puts on the near‑term resistance around $8.50‑$9.00, while watching for any bounce off the 20‑day EMA (~$9.15) as a potential entry for a contrarian trade. If volume normalizes and price holds above the 200‑day EMA, a stop‑loss just above the $9.30 level would help contain risk. Keep an eye on any further corporate updates (e.g., progress on the INBRX‑101 sale) that could catalyze a reversal.