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.
Get IN8bio alerts: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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