B. Riley Lowers IN8bio (NASDAQ:INAB) to Neutral

B. Riley cut shares of IN8bio (NASDAQ:INABGet Rating) from a buy rating to a neutral rating in a research report sent to investors on Friday, Marketbeat reports. They currently have $3.00 price target on the stock, down from their previous price target of $9.00.

Separately, HC Wainwright initiated coverage on IN8bio in a research report on Tuesday, August 30th. They set a buy rating and a $14.00 target price on the stock.

IN8bio Stock Up 3.7 %

Shares of NASDAQ:INAB opened at $1.71 on Friday. The stock has a market cap of $32.21 million, a price-to-earnings ratio of -1.36 and a beta of 0.52. IN8bio has a 12-month low of $1.42 and a 12-month high of $8.89. The business’s 50 day moving average is $2.03 and its 200 day moving average is $2.23.

IN8bio (NASDAQ:INABGet Rating) last announced its earnings results on Friday, August 12th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.05). As a group, equities research analysts expect that IN8bio will post -1.23 earnings per share for the current year.

Insider Buying and Selling

In other IN8bio news, Director Emily Fairbairn purchased 789,473 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The shares were acquired at an average cost of $1.90 per share, for a total transaction of $1,499,998.70. Following the completion of the acquisition, the director now owns 4,111,958 shares of the company’s stock, valued at approximately $7,812,720.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other IN8bio news, CEO William Tai-Wei Ho purchased 26,315 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The shares were acquired at an average cost of $1.90 per share, for a total transaction 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Emily Fairbairn bought 789,473 shares of the stock in a transaction on Tuesday, August 16th. The stock was purchased at an average price of $1.90 per share, for a total transaction of $1,499,998.70. Following the completion of the purchase, the director now owns 4,111,958 shares of the company’s stock, valued at $7,812,720.20. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 824,208 shares of company stock worth $1,565,995. 35.80% of the stock is owned by company insiders.

Institutional Trading of IN8bio

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake 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 period. Warberg Asset Management LLC bought a new stake in shares of IN8bio in the third quarter valued at $30,000. United Asset Strategies Inc. bought a new stake in shares of IN8bio in the third quarter valued at $28,000. Voss Capital LLC raised its stake in shares of IN8bio by 95.2% in the second quarter. Voss Capital LLC now owns 505,635 shares of the company’s stock valued at $1,143,000 after buying an additional 246,632 shares during the period. Finally, Stonegate Investment Group LLC bought a new stake in shares of IN8bio in the second quarter valued at $602,000. 12.98% of the stock is currently owned by institutional investors.

IN8bio Company Profile

(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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