IN8bio (NASDAQ:INAB) Stock Price Up 3% – Time to Buy?

IN8bio, Inc. (NASDAQ:INAB)’s share price traded up 3% during trading on Thursday . The company traded as high as $1.81 and last traded at $1.71. 23,383 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 39,729 shares. The stock had previously closed at $1.66.

Analyst Upgrades and Downgrades

Several research firms recently commented on INAB. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IN8bio in a research report on Thursday, January 22nd. Zacks Research upgraded shares of IN8bio to a “hold” rating in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, IN8bio currently has a consensus rating of “Hold” and an average price target of $92.00.

IN8bio Price Performance

The company has a market capitalization of $16.61 million, a P/E ratio of -0.31 and a beta of -0.01. The firm’s 50-day moving average is $2.05 and its 200-day moving average is $2.02.

Institutional Trading of IN8bio

Several hedge funds have recently bought and sold shares of the stock. HRT Financial LP purchased a new stake in IN8bio in the fourth quarter worth about $34,000. Captrust Financial Advisors bought a new position in shares of IN8bio during the 4th quarter valued at approximately $43,000. Texas Capital Bank Wealth Management Services Inc bought a new position in shares of IN8bio during the 4th quarter valued at approximately $56,000. Citadel Advisors LLC purchased a new stake in IN8bio in the 3rd quarter worth approximately $54,000. Finally, Two Sigma Investments LP bought a new stake in IN8bio during the 3rd quarter worth approximately $107,000. Institutional investors own 92.05% of the company’s stock.

IN8bio Company Profile

IN8bio, Inc (NASDAQ: INAB) is a clinical-stage biotechnology company focused on the development of novel immunotherapies for the treatment of cancer and neurodegenerative disorders. The company leverages insights into the body’s innate and adaptive immune systems to engineer cell-based products designed to target solid tumors, brain injuries and cognitive decline.

IN8bio’s pipeline is built on two proprietary platforms. The ENACT™ platform centers on allogeneic gamma delta T cell therapies aimed at solid tumors, with lead candidates advancing through early-stage clinical trials in glioblastoma and other oncology indications.