IN8bio, Inc. (NASDAQ:INAB) Short Interest Update

IN8bio, Inc. (NASDAQ:INAB) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 512,000 shares, an increase of 892.2% from the March 31st total of 51,600 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 342,700 shares, the days-to-cover ratio is currently 1.5 days.

IN8bio Stock Performance

INAB stock opened at $1.04 on Friday. The firm has a fifty day moving average price of $1.13 and a 200 day moving average price of $1.15. IN8bio has a fifty-two week low of $0.65 and a fifty-two week high of $3.48. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.57 and a current ratio of 4.57. The firm has a market cap of $33.27 million, a PE ratio of -1.03 and a beta of -0.01.

IN8bio (NASDAQ:INAB) last posted its earnings results on Thursday, March 14th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). Sell-side analysts anticipate that IN8bio will post -0.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Rock Creek Group LP boosted its stake in IN8bio by 98.3% during the third quarter. Rock Creek Group LP now owns 151,314 shares of the company’s stock worth $157,000 after buying an additional 75,000 shares during the period. Voss Capital LLC boosted its stake in IN8bio by 11.7% during the third quarter. Voss Capital LLC now owns 511,584 shares of the company’s stock worth $532,000 after buying an additional 53,708 shares during the period. AIGH Capital Management LLC purchased a new position in IN8bio during the fourth quarter worth $5,216,000. Finally, Texas Capital Bank Wealth Management Services Inc boosted its stake in IN8bio by 85.2% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 78,624 shares of the company’s stock worth $109,000 after buying an additional 36,179 shares during the period. 92.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on INAB shares. Laidlaw started coverage on shares of IN8bio in a report on Monday, March 18th. They set a “buy” rating and a $7.50 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of IN8bio in a report on Wednesday, April 10th.

About IN8bio

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.