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

IN8bio, Inc. (NASDAQ:INAB) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 84,800 shares, an increase of 296.3% from the February 29th total of 21,400 shares. Based on an average trading volume of 184,400 shares, the short-interest ratio is currently 0.5 days. Approximately 0.3% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Laidlaw assumed coverage on shares of IN8bio in a report on Monday, March 18th. They set a “buy” rating and a $7.50 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of IN8bio in a research report on Friday, March 15th.

IN8bio Stock Performance

Shares of INAB traded down $0.04 during midday trading on Wednesday, reaching $1.21. The stock had a trading volume of 69,717 shares, compared to its average volume of 175,678. The firm has a 50 day simple moving average of $1.21 and a 200-day simple moving average of $1.15. IN8bio has a one year low of $0.65 and a one year high of $3.95. The firm has a market cap of $38.71 million, a PE ratio of -1.20 and a beta of -0.03. The company has a current ratio of 4.57, a quick ratio of 4.57 and a debt-to-equity ratio of 0.02.

IN8bio (NASDAQ:INAB) last announced its earnings results on Thursday, March 14th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.05). As a group, sell-side analysts anticipate that IN8bio will post -0.7 EPS for the current year.

Institutional Investors Weigh In On IN8bio

Several hedge funds and other institutional investors have recently made changes to their positions in INAB. BlackRock Inc. grew its holdings in shares of IN8bio by 70.8% during the 1st quarter. BlackRock Inc. now owns 16,334 shares of the company’s stock valued at $54,000 after purchasing an additional 6,773 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of IN8bio by 53.1% during the 3rd quarter. Vanguard Group Inc. now owns 169,528 shares of the company’s stock valued at $342,000 after purchasing an additional 58,833 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in shares of IN8bio during the 4th quarter valued at approximately $26,000. Geode Capital Management LLC grew its holdings in shares of IN8bio by 12.1% during the 4th quarter. Geode Capital Management LLC now owns 58,665 shares of the company’s stock valued at $135,000 after purchasing an additional 6,318 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of IN8bio by 226.4% during the 2nd quarter. Northern Trust Corp now owns 43,258 shares of the company’s stock valued at $67,000 after purchasing an additional 30,005 shares during the last quarter. 92.05% of the stock is owned by institutional investors.

IN8bio Company Profile

IN8bio, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of gamma-delta T cell therapies for the treatment of cancers. Its lead product candidates include INB-200, a genetically modified autologous gamma-delta T cell product candidate that is in Phase I clinical trial for the treatment of glioblastoma and solid tumors; INB-100, an allogeneic product candidate, which is in Phase I clinical trial to treat patients with acute leukemia undergoing hematopoietic stem cell transplantation; and INB-400, which is in Phase 2 clinical trial to treat newly diagnosed GBM.