IN8bio (NASDAQ:INAB) Stock Price Down 9.8% – Should You Sell?

IN8bio, Inc. (NASDAQ:INAB) traded down 9.8% during trading on Monday . The company traded as low as $0.13 and last traded at $0.13. 16,362,541 shares traded hands during mid-day trading, an increase of 581% from the average session volume of 2,403,099 shares. The stock had previously closed at $0.15.

Analyst Ratings Changes

Separately, HC Wainwright reduced their target price on shares of IN8bio from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, March 14th.

IN8bio Price Performance

The firm has a market capitalization of $12.14 million, a price-to-earnings ratio of -0.18 and a beta of 0.23. The stock’s 50-day moving average price is $0.16 and its 200 day moving average price is $0.24. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.05.

IN8bio (NASDAQ:INAB) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Equities research analysts expect that IN8bio, Inc. will post -0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IN8bio

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BIOS Capital Management LP acquired a new stake in IN8bio during the fourth quarter worth about $2,212,000. AIGH Capital Management LLC boosted its stake in IN8bio by 269.7% during the fourth quarter. AIGH Capital Management LLC now owns 6,191,865 shares of the company’s stock worth $1,593,000 after buying an additional 4,517,227 shares during the period. Franklin Resources Inc. purchased a new position in IN8bio during the fourth quarter worth about $1,465,000. Alyeska Investment Group L.P. boosted its stake in IN8bio by 1,064.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 5,063,291 shares of the company’s stock worth $1,302,000 after buying an additional 4,628,482 shares during the period. Finally, Sigma Planning Corp boosted its stake in IN8bio by 22.3% during the fourth quarter. Sigma Planning Corp now owns 1,041,380 shares of the company’s stock worth $268,000 after buying an additional 190,100 shares during the period. 92.05% of the stock is currently owned by institutional investors and hedge funds.

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.