IN8bio (NASDAQ:INAB) Posts Earnings Results, Beats Expectations By $0.09 EPS

IN8bio (NASDAQ:INAB) issued its quarterly earnings results on Thursday. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.09, FiscalAI reports.

IN8bio Stock Performance

INAB stock traded up $0.01 during midday trading on Friday, reaching $0.98. The company had a trading volume of 36,582 shares, compared to its average volume of 62,575. The stock has a 50 day moving average price of $1.33 and a 200 day moving average price of $1.58. IN8bio has a fifty-two week low of $0.90 and a fifty-two week high of $2.73.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on INAB shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IN8bio in a report on Friday, July 17th. HC Wainwright reissued a “buy” rating on shares of IN8bio in a report on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, IN8bio has a consensus rating of “Hold” and a consensus target price of $4.00.

Institutional Trading of IN8bio

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alyeska Investment Group L.P. boosted its position in 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 purchasing an additional 875,000 shares during the period. Franklin Resources Inc. grew its stake 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 buying an additional 724,637 shares during the last quarter. Two Sigma Investments LP acquired a new stake in IN8bio in the third quarter worth $107,000. Citadel Advisors LLC acquired a new stake in IN8bio in the third quarter worth $54,000. Finally, Captrust Financial Advisors bought a new stake in IN8bio in the fourth quarter valued at $43,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

IN8bio Company Profile

IN8bio is a clinical-stage biopharmaceutical company developing ?? T cell therapeutic and ?? T cell engager (TCE) product candidates to address unmet medical needs. ?? 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 ?? T cell candidate for adult patients with high-risk
leukemias undergoing haploidentical stem cell transplantation.