IN8bio (NASDAQ:INAB) Releases Quarterly Earnings Results

IN8bio (NASDAQ:INAB) released its earnings results on Thursday. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.33, FiscalAI reports.

IN8bio Price Performance

Shares of INAB stock traded down $0.02 during trading hours on Friday, reaching $1.58. 42,515 shares of the company’s stock were exchanged, compared to its average volume of 64,823. The company’s 50 day moving average is $1.60 and its two-hundred day moving average is $1.82. The company has a market cap of $15.56 million, a P/E ratio of -0.61 and a beta of 0.08. IN8bio has a 1 year low of $1.17 and a 1 year high of $5.61.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on INAB shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of IN8bio in a research report on Tuesday, April 21st. HC Wainwright restated a “buy” rating on shares of IN8bio in a research report on Friday, March 13th. Finally, Zacks Research upgraded shares of IN8bio to a “hold” rating in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $4.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Alyeska Investment Group L.P. lifted its holdings in IN8bio by 1,060.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 957,484 shares of the company’s stock valued at $2,231,000 after acquiring an additional 875,000 shares during the period. Franklin Resources Inc. grew its stake in shares of IN8bio by 381.6% during the 4th quarter. Franklin Resources Inc. now owns 914,531 shares of the company’s stock worth $2,048,000 after purchasing an additional 724,637 shares during the period. Two Sigma Investments LP purchased a new position in shares of IN8bio in the 3rd quarter valued at about $107,000. Citadel Advisors LLC purchased a new position in shares of IN8bio in the 3rd quarter valued at about $54,000. Finally, Captrust Financial Advisors acquired a new stake in shares of IN8bio in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

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.