IN8bio, Inc. (NASDAQ:INAB) Sees Large Drop in Short Interest

IN8bio, Inc. (NASDAQ:INAB) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 20,789 shares, a drop of 40.8% from the June 30th total of 35,117 shares. Based on an average trading volume of 53,283 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.2% of the company’s shares are short sold.

IN8bio Trading Down 4.9%

NASDAQ:INAB traded down $0.05 during mid-day trading on Friday, hitting $1.03. The company had a trading volume of 57,512 shares, compared to its average volume of 65,699. The business has a fifty day simple moving average of $1.42 and a 200-day simple moving average of $1.63. The firm has a market capitalization of $10.12 million, a price-to-earnings ratio of -0.39 and a beta of 0.22. IN8bio has a 1 year low of $0.96 and a 1 year high of $2.73.

IN8bio (NASDAQ:INAB) last issued its 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. As a group, research analysts anticipate that IN8bio will post -1.53 earnings per share for the current year.

Analyst Ratings Changes

INAB has been the subject of several research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of IN8bio in a research note on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating on shares of IN8bio in a research note on Thursday, June 4th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.00.

Institutional Trading of IN8bio

Large investors have recently bought and sold shares of the company. HRT Financial LP purchased a new stake in shares of IN8bio during the fourth quarter worth about $34,000. Captrust Financial Advisors purchased a new position in IN8bio in the fourth quarter valued at about $43,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in IN8bio during the 4th quarter valued at approximately $56,000. Citadel Advisors LLC acquired a new stake in IN8bio during the 3rd quarter valued at approximately $54,000. Finally, Two Sigma Investments LP purchased a new stake in IN8bio during the 3rd quarter worth approximately $107,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

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.