Morgan Stanley discloses 7.9% Inhibrx (INBX) stake in 13G filing

Rhea-AI Filing Summary

Morgan Stanley and its affiliate Morgan Stanley Capital Services LLC have filed a Schedule 13G reporting beneficial ownership of Inhibrx Biosciences, Inc. common stock as of 12/31/2025. Morgan Stanley reports beneficial ownership of 1,155,416 shares, representing 7.9% of the outstanding common stock.

Morgan Stanley Capital Services LLC reports beneficial ownership of 918,011 shares, or 6.3% of the class, with shared voting and dispositive power over those shares. The securities are certified as acquired and held in the ordinary course of business, not for the purpose of changing or influencing control of Inhibrx Biosciences.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Inhibrx Biosciences, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

45720N103

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 45720N103

1

Names of Reporting Persons

Morgan Stanley

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,155,316.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,155,416.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,155,416.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.9 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. 45720N103

1

Names of Reporting Persons

Morgan Stanley Capital Services LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 918,011.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 918,011.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

918,011.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.3 %

12

Type of Reporting Person (See Instructions)

BD, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Inhibrx Biosciences, Inc.
(b)	Address of issuer's principal executive offices: 11025 N. TORREY PINES ROAD, SUITE 140, LA JOLLA, CA, 92037
Item 2.
(a)	Name of person filing: 1: Morgan Stanley 2: Morgan Stanley Capital Services LLC
(b)	Address or principal business office or, if none, residence: 1: 1585 Broadway, New York, NY 10036 ;2: 1585 Broadway, New York, NY 10036
(c)	Citizenship: 1: Delaware 2: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 45720N103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See the response(s) to Item 9 on the attached cover page(s).
(b)	Percent of class: 7.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See the response(s) to Item 5 on the attached cover page(s).
	(ii) Shared power to vote or to direct the vote: See the response(s) to Item 6 on the attached cover page(s).
	(iii) Sole power to dispose or to direct the disposition of: See the response(s) to Item 7 on the attached cover page(s).
	(iv) Shared power to dispose or to direct the disposition of: See the response(s) to Item 8 on the attached cover page(s).
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99.2
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. * In Accordance with the Securities and Exchange Commission Release No. 34-39538 (January 12, 1998) (the "Release"), this filing reflects the securities beneficially owned, or that may be deemed to be beneficially owned, by certain operating units (collectively, the "MS Reporting Units") of Morgan Stanley and its subsidiaries and affiliates (collectively, "MS"). This filing does not reflect securities, if any, beneficially owned by any operating units of MS whose ownership of securities is disaggregated from that of the MS Reporting Units in accordance with the Release.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Morgan Stanley

Signature:	Chris O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley
Date:	02/11/2026

Morgan Stanley Capital Services LLC

Signature:	Chris O'Hara
Name/Title:	Authorized Signatory, Morgan Stanley Capital Services LLC
Date:	02/11/2026

Exhibit Information

EXHIBIT NO. EXHIBITS ------------------ ------------------------------------ 99.1 Joint Filing Agreement 99.2 Item 7 Information * Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001).

FAQ

What stake does Morgan Stanley report in Inhibrx Biosciences (INBX)?

Morgan Stanley reports beneficial ownership of 1,155,416 Inhibrx Biosciences common shares, representing 7.9% of the class. This stake is disclosed on a Schedule 13G, indicating a passive ownership position rather than an attempt to influence corporate control.

How many Inhibrx (INBX) shares does Morgan Stanley Capital Services LLC own?

Morgan Stanley Capital Services LLC reports beneficial ownership of 918,011 Inhibrx Biosciences common shares, equal to 6.3% of the outstanding class. The filing states it has shared voting and shared dispositive power over these shares as of the December 31, 2025 event date.

Is Morgan Stanley’s Inhibrx (INBX) position passive or activist?

The position is described as passive. Morgan Stanley certifies the Inhibrx Biosciences securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control or participating in any control-related transaction.

What type of SEC filing did Morgan Stanley submit for Inhibrx (INBX)?

Morgan Stanley filed a Schedule 13G regarding Inhibrx Biosciences common stock. A Schedule 13G is used to report beneficial ownership of more than 5% of a class of equity securities when the holder is not seeking to influence or change corporate control.

What voting and dispositive powers are reported over Inhibrx (INBX) shares?

Morgan Stanley reports shared voting power over 1,155,316 shares and shared dispositive power over 1,155,416 shares. Morgan Stanley Capital Services LLC reports shared voting and shared dispositive power over 918,011 shares, with no sole voting or sole dispositive power reported.

What is the event date for Morgan Stanley’s Inhibrx (INBX) ownership disclosure?

The event date triggering the ownership disclosure is December 31, 2025. As of this date, Morgan Stanley and Morgan Stanley Capital Services LLC’s beneficial ownership levels in Inhibrx Biosciences common stock exceeded the 5% reporting threshold under SEC rules.