IN8bio (NASDAQ:INAB) Trading Down 0.1% – Should You Sell?

IN8bio, Inc. (NASDAQ:INAB)’s stock price dropped 0.1% during mid-day trading on Monday . The stock traded as low as $0.27 and last traded at $0.30. Approximately 407,033 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 729,137 shares. The stock had previously closed at $0.30.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and set a $8.00 price objective on shares of IN8bio in a research report on Tuesday, November 26th.

IN8bio Stock Down 0.1 %

The stock’s fifty day simple moving average is $0.30 and its 200-day simple moving average is $0.42. The stock has a market cap of $21.47 million, a P/E ratio of -0.39 and a beta of 0.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.84 and a current ratio of 1.84.

IN8bio (NASDAQ:INAB) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). As a group, research analysts forecast that IN8bio, Inc. will post -0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IN8bio

A hedge fund recently raised its stake in IN8bio stock. Sigma Planning Corp boosted its stake in IN8bio, Inc. (NASDAQ:INAB) by 42.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 851,280 shares of the company’s stock after purchasing an additional 251,600 shares during the period. Sigma Planning Corp owned about 1.82% of IN8bio worth $230,000 at the end of the most recent quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

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.