HC Wainwright started coverage on shares of IN8bio (NASDAQ:INAB – Get Rating) in a research note published on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $14.00 price objective on the stock.
IN8bio Trading Down 16.6 %
Shares of IN8bio stock opened at $2.41 on Tuesday. The company's fifty day simple moving average is $2.22 and its 200-day simple moving average is $2.83. The company has a market cap of $45.40 million and a price-to-earnings ratio of -2.06. IN8bio has a 1 year low of $1.75 and a 1 year high of $9.50.
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IN8bio (NASDAQ:INAB – Get Rating) last issued its earnings results on Friday, August 12th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.05). As a group, research analysts forecast that IN8bio will post -1.35 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO William Tai-Wei Ho bought 26,315 shares of IN8bio stock in a transaction that occurred on Tuesday, August 16th. The stock was purchased at an average cost of $1.90 per share, with a total value of $49,998.50. Following the completion of the transaction, the chief executive officer now directly owns 2,315,745 shares in the company, valued at $4,399,915.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Emily Fairbairn acquired 789,473 shares of the business's stock in a transaction on Tuesday, August 16th. The stock was bought at an average cost of $1.90 per share, with a total value of $1,499,998.70. Following the completion of the acquisition, the director now owns 4,111,958 shares in the company, valued at $7,812,720.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William Tai-Wei Ho acquired 26,315 shares of the business's stock in a transaction on Tuesday, August 16th. The shares were bought at an average cost of $1.90 per share, with a total value of $49,998.50. Following the completion of the acquisition, the chief executive officer now owns 2,315,745 shares of the company's stock, valued at approximately $4,399,915.50. The disclosure for this purchase can be found here. Insiders bought a total of 824,208 shares of company stock valued at $1,565,995 over the last ninety days. 35.80% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC bought a new position in shares of IN8bio during the fourth quarter valued at $44,000. BlackRock Inc. raised its holdings in shares of IN8bio by 70.8% in the first quarter. BlackRock Inc. now owns 16,334 shares of the company's stock valued at $54,000 after buying an additional 6,773 shares during the last quarter. Rock Creek Group LP raised its holdings in shares of IN8bio by 87.5% in the first quarter. Rock Creek Group LP now owns 86,032 shares of the company's stock valued at $299,000 after buying an additional 40,160 shares during the last quarter. Ensign Peak Advisors Inc bought a new position in shares of IN8bio in the fourth quarter valued at about $307,000. Finally, Sigma Planning Corp raised its holdings in shares of IN8bio by 241.8% in the first quarter. Sigma Planning Corp now owns 97,750 shares of the company's stock valued at $326,000 after buying an additional 69,150 shares during the last quarter. 12.98% of the stock is owned by institutional investors.
About IN8bio
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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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