IN8bio, Inc. (NASDAQ:INAB) Short Interest Up 618.2% in December

IN8bio, Inc. (NASDAQ:INAB) was the target of a large increase in short interest in December. As of December 31st, there was short interest totaling 278,120 shares, an increase of 618.2% from the December 15th total of 38,725 shares. Based on an average daily volume of 1,147,552 shares, the days-to-cover ratio is presently 0.2 days. Currently, 7.3% of the company’s stock are short sold. Currently, 7.3% of the company’s stock are short sold. Based on an average daily volume of 1,147,552 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On IN8bio

Institutional investors and hedge funds have recently modified their holdings of the business. Citadel Advisors LLC bought a new position in IN8bio during the 3rd quarter worth $54,000. Two Sigma Investments LP acquired a new position in IN8bio in the third quarter valued at about $107,000. Finally, Stonepine Capital Management LLC bought a new stake in IN8bio during the second quarter worth about $172,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

IN8bio Stock Performance

NASDAQ:INAB traded down $0.17 during mid-day trading on Monday, hitting $2.18. The stock had a trading volume of 152,065 shares, compared to its average volume of 723,761. IN8bio has a twelve month low of $1.17 and a twelve month high of $12.53. The stock has a market cap of $9.20 million, a price-to-earnings ratio of -0.40 and a beta of -0.01. The company’s 50 day simple moving average is $1.86 and its 200 day simple moving average is $2.07.

IN8bio (NASDAQ:INAB) last posted its earnings results on Thursday, November 6th. The company reported ($0.85) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.35. As a group, equities analysts forecast that IN8bio will post -0.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on INAB shares. Zacks Research raised shares of IN8bio from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 14th. Mizuho set a $4.00 price objective on shares of IN8bio in a research report on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IN8bio in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $92.00.

IN8bio Company Profile

IN8bio, Inc (NASDAQ: INAB) is a clinical-stage biotechnology company focused on the development of novel immunotherapies for the treatment of cancer and neurodegenerative disorders. The company leverages insights into the body’s innate and adaptive immune systems to engineer cell-based products designed to target solid tumors, brain injuries and cognitive decline.

IN8bio’s pipeline is built on two proprietary platforms. The ENACT™ platform centers on allogeneic gamma delta T cell therapies aimed at solid tumors, with lead candidates advancing through early-stage clinical trials in glioblastoma and other oncology indications.