IN8bio, Inc. (NASDAQ:INAB) Short Interest Update

IN8bio, Inc. (NASDAQ:INAB) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totaling 118,045 shares, a decline of 57.6% from the December 31st total of 278,120 shares. Based on an average daily trading volume, of 141,971 shares, the days-to-cover ratio is currently 0.8 days. Approximately 2.6% of the company’s stock are sold short. Approximately 2.6% of the company’s stock are sold short. Based on an average daily trading volume, of 141,971 shares, the days-to-cover ratio is currently 0.8 days.

IN8bio Stock Performance

NASDAQ:INAB traded up $0.04 during mid-day trading on Thursday, hitting $2.00. 62,973 shares of the company’s stock traded hands, compared to its average volume of 116,762. The company has a market cap of $9.86 million, a PE ratio of -0.37 and a beta of -0.01. The firm’s 50 day simple moving average is $2.02 and its 200 day simple moving average is $2.08. IN8bio has a 1 year low of $1.17 and a 1 year high of $12.53.

IN8bio (NASDAQ:INAB) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.20) by $0.35. On average, research analysts expect that IN8bio will post -0.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on INAB. Zacks Research upgraded IN8bio to a “hold” rating in a research note on Thursday, January 15th. Mizuho set a $4.00 target price on IN8bio in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IN8bio in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $92.00.

Institutional Trading of IN8bio

A number of institutional investors have recently modified their holdings of the company. Stonepine Capital Management LLC acquired a new stake in shares of IN8bio in the second quarter valued at about $172,000. Two Sigma Investments LP acquired a new stake in IN8bio during the third quarter valued at approximately $107,000. Finally, Citadel Advisors LLC acquired a new position in IN8bio in the third quarter worth $54,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

About IN8bio

IN8bio, Inc (NASDAQ: INAB) is a clinical-stage biotechnology company focused on the development of novel immunotherapies for the treatment of cancer and neurodegenerative disorders. The company leverages insights into the body’s innate and adaptive immune systems to engineer cell-based products designed to target solid tumors, brain injuries and cognitive decline.

IN8bio’s pipeline is built on two proprietary platforms. The ENACT™ platform centers on allogeneic gamma delta T cell therapies aimed at solid tumors, with lead candidates advancing through early-stage clinical trials in glioblastoma and other oncology indications.