IN8bio (NASDAQ:INAB) Trading Up 3% – Still a Buy?

IN8bio, Inc. (NASDAQ:INAB) shot up 3% 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.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INAB. Zacks Research upgraded shares of IN8bio to a “hold” rating in a research report on Thursday, January 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of IN8bio in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $92.00.

IN8bio Stock Performance

The company’s fifty day moving average price is $2.04 and its 200-day moving average price is $2.02. The stock has a market cap of $16.71 million, a P/E ratio of -0.31 and a beta of -0.01.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of INAB. Stonepine Capital Management LLC purchased a new stake in shares of IN8bio during the 2nd quarter valued at $172,000. Two Sigma Investments LP purchased a new stake in shares of IN8bio in the third quarter valued at approximately $107,000. Citadel Advisors LLC acquired a new stake in IN8bio in the 3rd quarter valued at $54,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of IN8bio during the fourth quarter worth approximately $56,000. Finally, Franklin Resources Inc. lifted its stake in shares of IN8bio by 381.6% in the fourth quarter. Franklin Resources Inc. now owns 914,531 shares of the company’s stock worth $2,048,000 after buying an additional 724,637 shares in the last quarter. Institutional investors own 92.05% of the company’s stock.

About IN8bio

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.