IN8bio (NASDAQ:INAB) Upgraded at Zacks Investment Research

IN8bio (NASDAQ:INAB – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The firm presently has a $2.50 price target on the stock. Zacks Investment Research‘s price target indicates a potential upside of 10.38% from the stock’s current price.

According to Zacks, “IN8bio Inc. is a clinical-stage biotechnology company. It focuses on developing therapies for the treatment of cancers, including solid tumors using allogeneic, autologous, and genetically modified gamma-delta T cells. The company’s principal candidate includes INB-200, which are in clinical stage. IN8bio Inc. is based in New York. “

Separately, B. Riley cut their target price on IN8bio from $19.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday, January 24th.

INAB opened at $2.27 on Tuesday. The stock has a fifty day simple moving average of $3.20 and a two-hundred day simple moving average of $4.40. The company has a current ratio of 16.09, a quick ratio of 17.28 and a debt-to-equity ratio of 0.01. The company has a market cap of $42.67 million and a price-to-earnings ratio of -1.27. IN8bio has a 12-month low of $2.00 and a 12-month high of $10.32.

IN8bio (NASDAQ:INAB – Get Rating) last posted its quarterly earnings data on Thursday, March 17th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.21). On average, analysts predict that IN8bio will post -1.38 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC purchased a new stake in shares of IN8bio in the fourth quarter worth $44,000. BlackRock Inc. boosted its position in shares of IN8bio by 70.8% during 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. Millennium Management LLC purchased a new stake in shares of IN8bio during the third quarter valued at $175,000. Sigma Planning Corp purchased a new stake in shares of IN8bio during the fourth quarter valued at $126,000. Finally, Tudor Investment Corp Et Al purchased a new stake in shares of IN8bio during the third quarter valued at $434,000. 9.69% of the stock is currently owned by hedge funds and other institutional investors.

About IN8bio (Get Rating)

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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