IN8bio, Inc. (NASDAQ:INAB) Short Interest Down 57.3% in June

IN8bio, Inc. (NASDAQ:INAB) was the target of a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 45,907 shares, a drop of 57.3% from the May 31st total of 107,416 shares. Based on an average daily volume of 55,764 shares, the short-interest ratio is presently 0.8 days. Currently, 0.5% of the company’s shares are short sold.

Institutional Trading of IN8bio

A number of institutional investors have recently modified their holdings of INAB. Two Sigma Investments LP bought a new position in shares of IN8bio during the 3rd quarter worth approximately $107,000. Citadel Advisors LLC purchased a new position in shares of IN8bio in the third quarter worth $54,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of IN8bio during the fourth quarter worth $56,000. Franklin Resources Inc. lifted its stake in shares of IN8bio by 381.6% during the fourth quarter. Franklin Resources Inc. now owns 914,531 shares of the company’s stock worth $2,048,000 after buying an additional 724,637 shares during the period. Finally, HRT Financial LP purchased a new stake in shares of IN8bio during the fourth quarter valued at $34,000. 92.05% of the stock is currently owned by institutional investors.

IN8bio Stock Up 5.5%

Shares of INAB stock traded up $0.07 on Monday, hitting $1.44. The stock had a trading volume of 48,236 shares, compared to its average volume of 68,076. IN8bio has a one year low of $1.17 and a one year high of $2.73. The business has a 50 day moving average price of $1.53 and a 200 day moving average price of $1.74. The company has a market cap of $14.13 million, a PE ratio of -0.55 and a beta of 0.19.

IN8bio (NASDAQ:INAB) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.33. Equities research analysts expect that IN8bio will post -1.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on INAB shares. HC Wainwright reiterated a “buy” rating on shares of IN8bio in a report on Thursday, June 4th. Weiss Ratings restated a “sell (e+)” rating on shares of IN8bio in a research note on Tuesday, April 21st. One research 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.