HC Wainwright Has Lowered Expectations for IN8bio (NASDAQ:INAB) Stock Price

IN8bio (NASDAQ:INAB) had its price target reduced by equities researchers at HC Wainwright from $8.00 to $6.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

IN8bio Trading Down 0.4 %

INAB opened at $0.23 on Friday. The firm has a market cap of $18.32 million, a price-to-earnings ratio of -0.30 and a beta of 0.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.05. IN8bio has a 12 month low of $0.21 and a 12 month high of $1.74. The stock has a fifty day moving average price of $0.28 and a 200-day moving average price of $0.30.

IN8bio (NASDAQ:INAB) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. As a group, equities research analysts anticipate that IN8bio will post -0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in INAB. Jane Street Group LLC increased its position in IN8bio by 296.7% during the 4th quarter. Jane Street Group LLC now owns 115,919 shares of the company’s stock valued at $30,000 after buying an additional 86,696 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of IN8bio by 56.5% in the fourth quarter. Geode Capital Management LLC now owns 515,193 shares of the company’s stock valued at $133,000 after purchasing an additional 185,919 shares during the period. Sigma Planning Corp increased its holdings in shares of IN8bio by 42.0% in the third quarter. Sigma Planning Corp now owns 851,280 shares of the company’s stock valued at $230,000 after purchasing an additional 251,600 shares during the period. Alyeska Investment Group L.P. increased its holdings in shares of IN8bio by 1,064.5% in the fourth quarter. Alyeska Investment Group L.P. now owns 5,063,291 shares of the company’s stock valued at $1,302,000 after purchasing an additional 4,628,482 shares during the period. Finally, Franklin Resources Inc. acquired a new position in shares of IN8bio in the fourth quarter valued at about $1,465,000. 92.05% of the stock is owned by institutional investors and hedge funds.

About IN8bio

IN8bio, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of gamma-delta T cell therapies for the treatment of cancers. Its lead product candidates include INB-200, a genetically modified autologous gamma-delta T cell product candidate that is in Phase I clinical trial for the treatment of glioblastoma and solid tumors; INB-100, an allogeneic product candidate, which is in Phase I clinical trial to treat patients with acute leukemia undergoing hematopoietic stem cell transplantation; and INB-400, which is in Phase 2 clinical trial to treat newly diagnosed GBM.