IN8bio (NASDAQ:INAB) Upgraded by Zacks Investment Research to Buy

IN8bio (NASDAQ:INABGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage presently has a $2.75 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 14.58% from the stock’s current price.

According to Zacks, “IN8bio Inc. is a clinical-stage biotechnology company. It focuses on developing therapies for the treatment of cancers, including solid tumors using allogeneic, autologous, and genetically modified gamma-delta T cells. The company’s principal candidate includes INB-200, which are in clinical stage. IN8bio Inc. is based in New York. “

INAB traded down $0.14 during midday trading on Thursday, hitting $2.40. The stock had a trading volume of 5,609 shares, compared to its average volume of 36,158. The company has a market cap of $45.21 million and a P/E ratio of -1.34. The business has a fifty day moving average of $2.98 and a 200 day moving average of $3.92. The company has a debt-to-equity ratio of 0.01, a quick ratio of 16.09 and a current ratio of 16.09. IN8bio has a 1 year low of $2.00 and a 1 year high of $10.32.

IN8bio (NASDAQ:INABGet Rating) last issued its earnings results on Thursday, May 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.01. On average, equities research analysts anticipate that IN8bio will post -1.35 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the stock. Capital World Investors bought a new position in shares of IN8bio during the third quarter valued at approximately $5,520,000. Sigma Planning Corp raised its holdings in shares of IN8bio by 241.8% during the first quarter. Sigma Planning Corp now owns 97,750 shares of the company’s stock valued at $326,000 after acquiring an additional 69,150 shares in the last quarter. Rock Creek Group LP raised its holdings in shares of IN8bio by 87.5% during the first quarter. Rock Creek Group LP now owns 86,032 shares of the company’s stock valued at $299,000 after acquiring an additional 40,160 shares in the last quarter. Voss Capital LLC bought a new position in shares of IN8bio during the third quarter valued at approximately $555,000. Finally, Ensign Peak Advisors Inc bought a new position in IN8bio in the fourth quarter worth $307,000. Institutional investors own 9.69% of the company’s stock.

IN8bio Company Profile (Get Rating)

IN8bio, Inc, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of gamma-delta T cell therapies for the treatment of cancers. Its lead product candidate includes 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; and INB-100, an allogeneic product candidate, which is in Phase I clinical trial to treat patients with acute leukemia undergoing hematopoietic stem cell transplantation.

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