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

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INAB. HC Wainwright restated a “buy” rating on shares of IN8bio in a 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 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.00.

IN8bio Trading Down 2.8%

The firm has a market capitalization of $13.69 million, a PE ratio of -0.53 and a beta of 0.19. The firm has a 50-day moving average of $1.53 and a two-hundred day moving average of $1.77.

IN8bio (NASDAQ:INAB) last issued its earnings results on Thursday, May 7th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.33. Equities research analysts expect that IN8bio, Inc. will post -1.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. HRT Financial LP purchased a new position in IN8bio in the fourth quarter valued at about $34,000. Captrust Financial Advisors purchased a new position in IN8bio in the fourth quarter valued at about $43,000. Citadel Advisors LLC purchased a new position in IN8bio in the third quarter valued at about $54,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in IN8bio in the fourth quarter valued at about $56,000. Finally, Two Sigma Investments LP purchased a new position in IN8bio in the third quarter valued at about $107,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

About IN8bio

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.