HC Wainwright Cuts IN8bio (NASDAQ:INAB) Price Target to $6.00

IN8bio (NASDAQ:INAB) had its price target reduced by HC Wainwright from $8.00 to $6.00 in a research report released on Friday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

IN8bio Stock Down 0.4 %

Shares of NASDAQ:INAB opened at $0.23 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $0.28 and a 200 day simple moving average of $0.30. The firm has a market cap of $18.32 million, a PE ratio of -0.30 and a beta of 0.03. IN8bio has a 12-month low of $0.21 and a 12-month high of $1.74.

IN8bio (NASDAQ:INAB) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. On average, equities research analysts anticipate that IN8bio will post -0.56 EPS for the current fiscal year.

Institutional Trading of IN8bio

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

About IN8bio

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.