IN8bio (NASDAQ:INAB) Stock Price Down 5.3% – Should You Sell?

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of IN8bio in a research note on Tuesday, April 21st. HC Wainwright reaffirmed a “buy” rating on shares of IN8bio in a research report on Thursday, June 4th. One research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.00.

IN8bio Trading Down 5.3%

The business has a 50 day simple moving average of $1.49 and a two-hundred day simple moving average of $1.70. The stock has a market cap of $12.41 million, a price-to-earnings ratio of -0.48 and a beta of 0.22.

IN8bio (NASDAQ:INAB) last announced its earnings results on Thursday, May 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.33. Research analysts anticipate that IN8bio, Inc. will post -1.53 EPS for the current fiscal year.

Institutional Trading of IN8bio

Institutional investors have recently added to or reduced their stakes in the stock. 683 Capital Management LLC bought a new position in IN8bio during the 4th quarter valued at $1,696,000. Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of IN8bio in the 4th quarter worth about $56,000. Alyeska Investment Group L.P. increased its position in shares of IN8bio by 1,060.8% in the 4th quarter. Alyeska Investment Group L.P. now owns 957,484 shares of the company’s stock worth $2,231,000 after purchasing an additional 875,000 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of IN8bio by 381.6% in the 4th quarter. Franklin Resources Inc. now owns 914,531 shares of the company’s stock valued at $2,048,000 after purchasing an additional 724,637 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new stake in shares of IN8bio in the 4th quarter valued at about $43,000. 92.05% of the stock is owned by institutional investors and hedge funds.

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.