IN8bio, Inc. (NASDAQ:INAB) Sees Large Increase in Short Interest

IN8bio, Inc. (NASDAQ:INAB) saw a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 139,903 shares, an increase of 461.6% from the July 30th total of 24,913 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily volume of 98,439 shares, the days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On IN8bio

A number of hedge funds have recently made changes to their positions in INAB. HRT Financial LP acquired a new stake in shares of IN8bio during the 4th quarter valued at about $34,000. Captrust Financial Advisors bought a new stake in IN8bio in the fourth quarter valued at about $43,000. Texas Capital Bank Wealth Management Services Inc acquired a new position in IN8bio in the fourth quarter worth about $56,000. Citadel Advisors LLC acquired a new position in IN8bio in the third quarter worth about $54,000. Finally, Two Sigma Investments LP bought a new position in IN8bio during the third quarter worth about $107,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

IN8bio Stock Down 0.8%

IN8bio stock opened at $1.17 on Wednesday. The business has a 50 day moving average price of $1.25 and a two-hundred day moving average price of $1.49. The stock has a market cap of $11.54 million, a price-to-earnings ratio of -0.72 and a beta of 0.24. IN8bio has a 12 month low of $0.88 and a 12 month high of $2.73.

IN8bio (NASDAQ:INAB) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.09. On average, analysts expect that IN8bio will post -1.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INAB. HC Wainwright reissued a “buy” rating on shares of IN8bio in a research report on Thursday, June 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of IN8bio in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $4.00.

About IN8bio

IN8bio is a clinical-stage biopharmaceutical company developing γδ T cell therapeutic and γδ T cell engager (TCE) product candidates to address unmet medical needs. γδ T cells are
a specialized population of T cells that possess unique properties, including the ability to differentiate between healthy and diseased tissue. The Company’s lead programs consist of INB-100, an allogeneic γδ T cell candidate for adult patients with high-risk
leukemias undergoing haploidentical stem cell transplantation.