IN8bio (NASDAQ:INAB) Releases Earnings Results, Beats Expectations By $0.33 EPS

IN8bio (NASDAQ:INAB) posted its quarterly earnings results on Thursday. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.33, FiscalAI reports.

IN8bio Price Performance

Shares of NASDAQ INAB traded down $0.02 on Friday, hitting $1.58. The company’s stock had a trading volume of 42,515 shares, compared to its average volume of 64,823. IN8bio has a 12-month low of $1.17 and a 12-month high of $5.61. The company has a market capitalization of $15.56 million, a price-to-earnings ratio of -0.61 and a beta of 0.08. The stock has a 50 day moving average of $1.60 and a 200-day moving average of $1.82.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INAB. HRT Financial LP purchased a new stake in IN8bio in the 4th quarter valued at approximately $34,000. Captrust Financial Advisors purchased a new position in IN8bio during the fourth quarter worth $43,000. Citadel Advisors LLC purchased a new position in IN8bio during the third quarter worth $54,000. Two Sigma Investments LP acquired a new position in shares of IN8bio in the third quarter worth $107,000. Finally, Franklin Resources Inc. raised its holdings in shares of IN8bio by 381.6% in the fourth quarter. Franklin Resources Inc. now owns 914,531 shares of the company’s stock worth $2,048,000 after acquiring an additional 724,637 shares during the last quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on INAB. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IN8bio in a research note on Tuesday, April 21st. HC Wainwright reiterated a “buy” rating on shares of IN8bio in a research report on Friday, March 13th. Finally, Zacks Research raised IN8bio to a “hold” rating in a report on Thursday, January 15th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, IN8bio currently has an average rating of “Hold” and a consensus target price of $4.00.

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.