Research firm Zacks Research has upgraded shares of IN8bio (NASDAQ: INAB) to a “Hold” rating, as detailed in a report released on the morning of October 12, 2023. This decision follows a series of mixed evaluations from various analysts regarding the biotechnology company’s stock performance.
On the same day as Zacks’ upgrade, Weiss Ratings reaffirmed a “Sell (e+)” rating for IN8bio. Earlier, on October 9, 2023, Mizuho established a price target of $4.00 for the company’s shares. Currently, one equity research analyst has issued a “Buy” rating, while another has assigned a “Hold” rating, and a third has recommended a “Sell.” According to MarketBeat.com, IN8bio holds an average rating of “Hold” alongside a consensus price target of $92.00.
Recent Earnings Report and Analyst Predictions
IN8bio recently reported its quarterly earnings on November 6, 2023, indicating a loss of ($0.85) per share, which surpassed analysts’ expectations of ($1.20) by $0.35. Analysts anticipate that IN8bio will report an earnings per share (EPS) of ($0.56) for the current year.
In terms of institutional activity, several investors have adjusted their stakes in IN8bio. Two Sigma Investments LP acquired a new stake valued at approximately $107,000 during the third quarter. Additionally, Citadel Advisors LLC and Stonepine Capital Management LLC also purchased new positions worth $54,000 and $172,000, respectively. Currently, institutional investors own approximately 92.05% of IN8bio’s stock.
Analyst Sentiment and Company Outlook
Several analysts have expressed optimism regarding IN8bio’s future. HC Wainwright has significantly raised its near-term quarterly EPS forecasts, adjusting estimates for Q1–Q4 2026 from around ($1.20)/($1.50) per quarter to approximately ($0.21), ($0.25), ($0.29), and ($0.33). This revision indicates a more favorable outlook for the company’s financial performance.
Annual EPS estimates have also been revised upwards, with projections for FY2025 adjusted to ($0.66) and FY2026 now at ($1.09), suggesting less downside than previously forecasted. Analysts predict that by FY2029, IN8bio could achieve an EPS of $0.25 and $0.62 in FY2030, highlighting potential long-term profitability.
Despite these upgrades, HC Wainwright’s forecast for FY2026 remains less optimistic than the consensus estimate of ($0.56). Analysts caution that while sentiment is improving, execution risks and timing uncertainties persist, indicating that investors should approach these revisions with careful consideration.
IN8bio is a clinical-stage biotechnology company that focuses on developing innovative immunotherapies for cancer and neurodegenerative disorders. The firm utilizes insights from the body’s innate and adaptive immune systems to create cell-based products aimed at targeting solid tumors and cognitive decline. Its pipeline benefits from two proprietary platforms, with the ENACTTM platform concentrating on allogeneic gamma delta T cell therapies for solid tumors, currently advancing in early-stage clinical trials for glioblastoma and other oncology indications.
As the market reacts to these developments, investors remain focused on IN8bio’s performance and the broader implications of analyst ratings and forecasts.
