IN8bio, Inc. (NASDAQ:INAB) Sees Significant Drop in Short Interest

IN8bio, Inc. (NASDAQ:INAB) was the recipient of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 45,907 shares, a decline of 57.3% from the May 31st total of 107,416 shares. Based on an average daily trading volume, of 55,764 shares, the short-interest ratio is currently 0.8 days. Approximately 0.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On IN8bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HRT Financial LP purchased a new stake in IN8bio in the 4th quarter worth approximately $34,000. Captrust Financial Advisors acquired a new position in shares of IN8bio in the 4th quarter valued at $43,000. Citadel Advisors LLC acquired a new position in shares of IN8bio in the 3rd quarter valued at $54,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in IN8bio during the fourth quarter worth $56,000. Finally, Two Sigma Investments LP purchased a new stake in IN8bio during the third quarter worth $107,000. 92.05% of the stock is owned by institutional investors and hedge funds.

IN8bio Trading Up 0.7%

Shares of INAB stock traded up $0.01 during trading hours on Wednesday, reaching $1.42. 14,937 shares of the company’s stock were exchanged, compared to its average volume of 67,258. IN8bio has a 1 year low of $1.17 and a 1 year high of $2.73. The stock has a market cap of $13.99 million, a PE ratio of -0.54 and a beta of 0.19. The stock’s fifty day moving average price is $1.53 and its two-hundred day moving average price is $1.73.

IN8bio (NASDAQ:INAB) last released its earnings results on Thursday, May 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.33. On average, equities analysts expect that IN8bio will post -1.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on INAB shares. Weiss Ratings reissued a “sell (e+)” rating on shares of IN8bio in a research note on Tuesday, April 21st. HC Wainwright reiterated 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 issued a Sell rating to the stock. Based on data from MarketBeat, IN8bio has a consensus rating of “Hold” and an average price target of $4.00.

IN8bio Company Profile

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.