IN8bio (NASDAQ:INAB) Issues Quarterly Earnings Results, Beats Estimates By $0.33 EPS

IN8bio (NASDAQ:INAB) posted its earnings results on Thursday. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.33, FiscalAI reports.

IN8bio Trading Down 1.3%

Shares of INAB traded down $0.02 during midday trading on Friday, reaching $1.58. The stock had a trading volume of 42,515 shares, compared to its average volume of 64,823. The company’s 50-day moving average is $1.60 and its 200 day moving average is $1.82. IN8bio has a 12-month low of $1.17 and a 12-month high of $5.61. The company has a market capitalization of $15.56 million, a price-to-earnings ratio of -0.61 and a beta of 0.08.

Wall Street Analysts Forecast Growth

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

Institutional Trading of IN8bio

Several hedge funds and other institutional investors have recently bought and sold shares of INAB. Two Sigma Investments LP purchased a new stake in IN8bio during the 3rd quarter valued at about $107,000. Citadel Advisors LLC purchased a new stake in IN8bio during the 3rd quarter valued at about $54,000. Franklin Resources Inc. boosted its holdings 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 acquiring an additional 724,637 shares during the period. HRT Financial LP purchased a new stake in IN8bio during the 4th quarter valued at about $34,000. Finally, Alyeska Investment Group L.P. boosted its holdings in IN8bio by 1,060.8% during the 4th 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. Hedge funds and other institutional investors own 92.05% of the company’s stock.

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.