IN8bio (NASDAQ:INAB) Shares Down 5.3% – Time to Sell?

Shares of IN8bio, Inc. (NASDAQ:INAB) fell 5.3% during trading on Monday . The stock traded as low as $1.23 and last traded at $1.26. Approximately 54,599 shares changed hands during mid-day trading, an increase of 13% from the average session volume of 48,451 shares. The stock had previously closed at $1.33.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on INAB shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of IN8bio in a research note on Friday. HC Wainwright reissued a “buy” rating on shares of IN8bio in a report on Thursday, June 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, IN8bio presently has an average rating of “Hold” and a consensus target price of $4.00.

IN8bio Price Performance

The stock has a 50 day moving average of $1.48 and a two-hundred day moving average of $1.69. The stock has a market capitalization of $12.11 million, a PE ratio of -0.47 and a beta of 0.22.

IN8bio (NASDAQ:INAB) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.33. As a group, research analysts predict that IN8bio, Inc. will post -1.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IN8bio

A number of large investors have recently made changes to their positions in INAB. HRT Financial LP purchased a new stake in IN8bio during the fourth quarter worth 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 acquired a new stake in shares of IN8bio during the 4th quarter valued at approximately $56,000. Finally, Two Sigma Investments LP acquired a new stake in shares of IN8bio during the 3rd quarter valued at approximately $107,000. 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.