IN8bio (NASDAQ:INAB) Releases Earnings Results, Beats Estimates By $0.09 EPS

IN8bio (NASDAQ:INAB) announced its quarterly earnings data on Thursday. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.09, FiscalAI reports.

IN8bio Price Performance

NASDAQ INAB traded up $0.01 during trading hours on Friday, hitting $0.98. The company had a trading volume of 36,582 shares, compared to its average volume of 62,575. The firm’s 50 day moving average is $1.33 and its 200 day moving average is $1.58. IN8bio has a fifty-two week low of $0.90 and a fifty-two week high of $2.73. The company has a market capitalization of $9.64 million, a price-to-earnings ratio of -0.60 and a beta of 0.24.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating on shares of IN8bio in a research report on Thursday, June 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IN8bio in a research report on Friday, July 17th. 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.00.

Institutional Investors Weigh In On IN8bio

Institutional investors and hedge funds have recently modified their holdings of the stock. Alyeska Investment Group L.P. raised its holdings in shares of 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 buying an additional 875,000 shares during the period. Franklin Resources Inc. lifted its position in 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 acquiring an additional 724,637 shares in the last quarter. Citadel Advisors LLC purchased a new position in IN8bio in the 3rd quarter worth approximately $54,000. Two Sigma Investments LP purchased a new position in IN8bio in the 3rd quarter worth approximately $107,000. Finally, Captrust Financial Advisors purchased a new position in IN8bio in the 4th quarter worth approximately $43,000. 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.