IN8bio (NASDAQ:INAB) Trading Down 1.7% – Here’s What Happened

IN8bio, Inc. (NASDAQ:INAB)’s share price fell 1.7% during trading on Monday . The company traded as low as $2.33 and last traded at $2.35. 52,182 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 79,368 shares. The stock had previously closed at $2.39.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INAB. Weiss Ratings reiterated a “sell (e+)” rating on shares of IN8bio in a research report on Saturday, September 27th. Wall Street Zen upgraded shares of IN8bio from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $180.00.

IN8bio Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 7.03 and a quick ratio of 7.03. The stock has a market capitalization of $10.67 million, a price-to-earnings ratio of -0.26 and a beta of 0.03. The stock has a 50 day moving average price of $2.18 and a 200-day moving average price of $3.24.

IN8bio (NASDAQ:INAB) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($1.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.50) by $0.26. On average, analysts forecast that IN8bio, Inc. will post -0.56 earnings per share for the current year.

Institutional Trading of IN8bio

An institutional investor recently raised its position in IN8bio stock. Jane Street Group LLC raised its holdings in IN8bio, Inc. (NASDAQ:INAB) by 296.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 115,919 shares of the company’s stock after acquiring an additional 86,696 shares during the period. Jane Street Group LLC owned approximately 0.16% of IN8bio worth $30,000 at the end of the most recent quarter. Institutional investors own 92.05% of the company’s stock.

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.