Short Interest in IN8bio, Inc. (NASDAQ:INAB) Drops By 35.1%

IN8bio, Inc. (NASDAQ:INAB) saw a large decrease in short interest in August. As of August 31st, there was short interest totaling 90,842 shares, a decrease of 35.1% from the August 15th total of 139,903 shares. Based on an average trading volume of 55,295 shares, the short-interest ratio is currently 1.6 days. Currently, 1.1% of the company’s stock are sold short.

IN8bio Trading Down 1.4%

Shares of INAB traded down $0.01 during trading hours on Friday, hitting $1.05. The company had a trading volume of 3,418 shares, compared to its average volume of 64,212. The company has a market capitalization of $10.40 million, a PE ratio of -0.65 and a beta of 0.30. IN8bio has a one year low of $0.88 and a one year high of $2.73. The company’s fifty day moving average price is $1.14 and its two-hundred day moving average price is $1.41.

IN8bio (NASDAQ:INAB) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.09. Analysts forecast that IN8bio will post -1.25 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in IN8bio stock. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of IN8bio, Inc. (NASDAQ:INAB) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 23,750 shares of the company’s stock, valued at approximately $56,000. Texas Capital Bank Wealth Management Services Inc owned about 0.24% of IN8bio at the end of the most recent quarter. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. HC Wainwright restated a “buy” rating on shares of IN8bio in a report on Thursday, June 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of IN8bio in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently 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.