IN8bio (NASDAQ:INAB) Stock Price Down 2.8% – Here’s Why

Shares of IN8bio, Inc. (NASDAQ:INAB) traded down 2.8% during mid-day trading on Monday . The company traded as low as $1.39 and last traded at $1.39. 30,679 shares changed hands during trading, a decline of 54% from the average session volume of 66,706 shares. The stock had previously closed at $1.43.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating on shares of IN8bio in a research report on Thursday, June 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IN8bio in a research report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, IN8bio has a consensus rating of “Hold” and a consensus target price of $4.00.

IN8bio Trading Up 6.5%

The firm has a 50-day moving average of $1.53 and a 200-day moving average of $1.76. The stock has a market capitalization of $14.48 million, a price-to-earnings ratio of -0.56 and a beta of 0.19.

IN8bio (NASDAQ:INAB) last released its earnings results on Thursday, May 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.33. On average, equities research analysts anticipate that IN8bio, Inc. will post -1.53 EPS for the current year.

Hedge Funds Weigh In On IN8bio

Several hedge funds have recently made changes to their positions in INAB. HRT Financial LP acquired a new position in shares of IN8bio in the 4th quarter valued at $34,000. Captrust Financial Advisors acquired a new position in shares of IN8bio in the 4th quarter valued at $43,000. Citadel Advisors LLC acquired a new position in shares of IN8bio in the 3rd quarter valued at $54,000. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of IN8bio in the 4th quarter valued at $56,000. Finally, Two Sigma Investments LP acquired a new position in shares of IN8bio in the 3rd quarter valued at $107,000. 92.05% of the stock is owned by institutional investors and hedge funds.

IN8bio Company Profile

IN8bio is a clinical-stage biopharmaceutical company developing ?? T cell therapeutic and ?? T cell engager (TCE) product candidates to address unmet medical needs. ?? T cells are
a specialized population of T cells that possess unique properties, including the ability to differentiate between healthy and diseased tissue. The Company’s lead programs consist of INB-100, an allogeneic ?? T cell candidate for adult patients with high-risk
leukemias undergoing haploidentical stem cell transplantation.