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

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

IN8bio Price Performance

Shares of NASDAQ:INAB opened at $0.23 on Friday. The firm has a 50 day moving average of $0.28 and a 200-day moving average of $0.30. The stock has a market capitalization of $18.32 million, a PE ratio of -0.30 and a beta of 0.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.05. IN8bio has a 12 month low of $0.21 and a 12 month high of $1.74.

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

Hedge Funds Weigh In On IN8bio

Institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its position in IN8bio by 296.7% during the 4th quarter. Jane Street Group LLC now owns 115,919 shares of the company’s stock worth $30,000 after purchasing an additional 86,696 shares in the last quarter. Geode Capital Management LLC increased its position in IN8bio by 56.5% during the 4th quarter. Geode Capital Management LLC now owns 515,193 shares of the company’s stock worth $133,000 after purchasing an additional 185,919 shares in the last quarter. Sigma Planning Corp increased its position in IN8bio by 42.0% during the 3rd quarter. Sigma Planning Corp now owns 851,280 shares of the company’s stock worth $230,000 after purchasing an additional 251,600 shares in the last quarter. Alyeska Investment Group L.P. increased its position in IN8bio by 1,064.5% during the 4th 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 in the last quarter. Finally, Franklin Resources Inc. acquired a new position in IN8bio during the 4th quarter worth approximately $1,465,000. 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.