IN8bio (NASDAQ:INAB) Shares Down 0.1% – Here’s Why

IN8bio, Inc. (NASDAQ:INAB)’s share price dropped 0.1% on Monday . The company traded as low as $0.27 and last traded at $0.30. Approximately 407,033 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 729,137 shares. The stock had previously closed at $0.30.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and set a $8.00 target price on shares of IN8bio in a research report on Tuesday, November 26th.

IN8bio Stock Performance

The firm has a market cap of $18.68 million, a PE ratio of -0.34 and a beta of 0.04. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.05. The business has a 50 day simple moving average of $0.30 and a two-hundred day simple moving average of $0.42.

IN8bio (NASDAQ:INAB) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). As a group, equities research analysts forecast that IN8bio, Inc. will post -0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IN8bio

An institutional investor recently raised its position in IN8bio stock. Sigma Planning Corp increased its position in shares of IN8bio, Inc. (NASDAQ:INAB) by 42.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 851,280 shares of the company’s stock after acquiring an additional 251,600 shares during the quarter. Sigma Planning Corp owned about 1.82% of IN8bio worth $230,000 as of its most recent SEC filing. 92.05% of the stock is currently owned by institutional investors.

IN8bio Company Profile

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.