IN8bio (NASDAQ:INAB) Announces Quarterly Earnings Results

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

IN8bio Price Performance

INAB stock traded up $0.01 on Friday, reaching $0.98. 36,582 shares of the company traded hands, compared to its average volume of 62,575. The firm has a fifty day simple moving average of $1.33 and a 200-day simple moving average of $1.58. The company has a market cap of $9.64 million, a P/E ratio of -0.60 and a beta of 0.24. IN8bio has a one year low of $0.90 and a one year high of $2.73.

Institutional Investors Weigh In On IN8bio

Institutional investors have recently modified their holdings of the stock. HRT Financial LP bought a new position in shares of IN8bio during the fourth quarter valued at $34,000. Captrust Financial Advisors bought a new position in IN8bio in the 4th quarter worth about $43,000. Citadel Advisors LLC bought a new position in IN8bio in the 3rd quarter worth about $54,000. Two Sigma Investments LP bought a new position in IN8bio in the 3rd quarter worth about $107,000. Finally, Franklin Resources Inc. grew its position in IN8bio by 381.6% during the 4th 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 owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on INAB. HC Wainwright restated a “buy” rating on shares of IN8bio in a research note on Thursday, June 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IN8bio in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, IN8bio currently 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 γδ T cell therapeutic and γδ T cell engager (TCE) product candidates to address unmet medical needs. γδ 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 γδ T cell candidate for adult patients with high-risk
leukemias undergoing haploidentical stem cell transplantation.