IN8bio (NASDAQ:INAB) Shares Down 3.8% – Time to Sell?

IN8bio, Inc. (NASDAQ:INAB) was down 3.8% during trading on Wednesday . The company traded as low as $1.01 and last traded at $1.01. 29,289 shares traded hands during trading, a decline of 28% from the average daily volume of 40,792 shares. The stock had previously closed at $1.05.

Analyst Ratings Changes

Several brokerages recently weighed in on INAB. HC Wainwright reissued a “buy” rating on shares of IN8bio in a report on Thursday, June 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of IN8bio in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.00.

IN8bio Price Performance

The stock has a fifty day moving average price of $1.14 and a 200 day moving average price of $1.41. The stock has a market capitalization of $10.44 million, a P/E ratio of -0.65 and a beta of 0.30.

IN8bio (NASDAQ:INAB) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.09. Research analysts anticipate that IN8bio, Inc. will post -1.25 earnings per share for the current year.

Hedge Funds Weigh In On IN8bio

An institutional investor recently bought a new position in IN8bio stock. Texas Capital Bank Wealth Management Services Inc bought a new position in shares of IN8bio, Inc. (NASDAQ:INAB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 23,750 shares of the company’s stock, valued at approximately $56,000. Texas Capital Bank Wealth Management Services Inc owned 0.24% of IN8bio at the end of the most recent quarter. 92.05% of the stock is currently 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.