IN8bio (NASDAQ:INAB) Issues Earnings Results

IN8bio (NASDAQ:INAB) announced its quarterly earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.09, FiscalAI reports.

IN8bio Stock Performance

Shares of INAB traded up $0.01 during midday trading on Friday, hitting $0.98. The stock had a trading volume of 36,582 shares, compared to its average volume of 62,575. The company has a 50 day simple moving average of $1.33 and a two-hundred day simple moving average of $1.58. IN8bio has a twelve month low of $0.90 and a twelve month high of $2.73.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. HRT Financial LP bought a new stake in IN8bio in the 4th quarter valued at approximately $34,000. Captrust Financial Advisors bought a new position in shares of IN8bio during the 4th quarter worth approximately $43,000. Citadel Advisors LLC bought a new position in shares of IN8bio during the 3rd quarter worth approximately $54,000. Two Sigma Investments LP acquired a new stake in shares of IN8bio in the third quarter valued at approximately $107,000. Finally, Franklin Resources Inc. raised its holdings in shares of IN8bio by 381.6% in the fourth quarter. Franklin Resources Inc. now owns 914,531 shares of the company’s stock valued at $2,048,000 after purchasing an additional 724,637 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on INAB shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of IN8bio in a research report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating on shares of IN8bio in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $4.00.

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.