IN8bio, Inc. (NASDAQ:INAB) Short Interest Up 461.6% in August

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

IN8bio Stock Down 0.8%

IN8bio stock opened at $1.17 on Wednesday. The company’s fifty day simple moving average is $1.25 and its 200-day simple moving average is $1.49. IN8bio has a 12 month low of $0.88 and a 12 month high of $2.73. The stock has a market cap of $11.54 million, a P/E ratio of -0.72 and a beta of 0.24.

IN8bio (NASDAQ:INAB) last released 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, equities research analysts expect that IN8bio will post -1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of IN8bio in a research note on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating on shares of IN8bio in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, IN8bio presently has an average rating of “Hold” and an average price target 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.