Inhibrx (INBX) has been on a tear lately. The biotech company reported positive topline results from its registrational trial of Ozekibart (INBRX-109) back in October 2025, and investors responded enthusiastically. The stock surged more than 150% in short order, drawing plenty of attention from traders looking for the next big winner.
But here's the thing: not every rally is created equal. According to analysts at Adhishthana.com, who examine stocks through the lens of a proprietary 18-phase cycle framework, Inhibrx may be rallying at exactly the wrong time. And that timing mismatch could spell trouble down the road.
Understanding the Monthly Cycle Structure
Inhibrx is currently sitting in Phase 2 of the Adhishthana cycle on monthly charts. Phase 2, according to this framework, breaks down into two distinct segments. First comes the Sankhya period, which typically features consolidation or corrective price action. Think of it as the stock catching its breath. Then comes the Buddhi period, where the real upside momentum usually kicks in.
The problem? Inhibrx is still in the early Sankhya portion of Phase 2, yet it's already delivered a massive upside move. Instead of consolidating like the framework would predict, the stock has shot higher. That's a deviation from the expected pattern, and historically, premature strength during Sankhya tends to create instability later in the cycle.
When stocks rally aggressively in the early part of Phase 2, they often face sharp corrections once they transition into the Buddhi phase. Adhishthana points to Lamb Weston as a cautionary tale. That stock also rallied prematurely during its Sankhya period, then collapsed by more than 60% once Buddhi arrived.
What This Means for Investors
Right now, Inhibrx remains within the initial Sankhya window, and the formal transition into Buddhi is still months away. That means there's room for the rally to extend further in the near term. The stock could keep climbing, and short-term momentum traders might still find opportunities.
But structurally, the move is happening at a suboptimal point in the cycle, which raises serious questions about sustainability. If you're thinking about chasing Inhibrx at current levels, you might want to think twice. The strength looks impressive on the surface, but it's not aligned with the natural rhythm of the Adhishthana cycle.
For investors who got in before the Ozekibart announcement, holding makes sense for now. Just be aware that the current rally carries structural risks under this framework. The stock may continue to trade with bullish momentum in the short term, but the timing of the move suggests that not all risks are visible yet.
In other words, Inhibrx may still look strong, but beneath that rally lies a misalignment that shouldn't be ignored. Sometimes the best trades aren't just about buying what's going up, but understanding whether the timing supports the move. According to the Adhishthana framework, this rally might be built on shaky ground.




