IN8bio, Inc. (NASDAQ:INAB) Sees Significant Increase in Short Interest

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

Hedge Funds Weigh In On IN8bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Texas Capital Bank Wealth Management Services Inc grew its holdings in IN8bio by 85.2% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 78,624 shares of the company’s stock worth $109,000 after acquiring an additional 36,179 shares during the period. Rock Creek Group LP grew 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 purchasing an additional 75,000 shares during the period. Voss Capital LLC increased its holdings in IN8bio by 11.7% in the third quarter. Voss Capital LLC now owns 511,584 shares of the company’s stock worth $532,000 after purchasing an additional 53,708 shares in the last quarter. Finally, AIGH Capital Management LLC acquired a new position in IN8bio in the fourth quarter valued at approximately $5,216,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

Analyst Ratings Changes

INAB has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of IN8bio in a report on Wednesday, April 10th. Laidlaw assumed coverage on shares of IN8bio in a research note on Monday, March 18th. They set a “buy” rating and a $7.50 price target for the company.

IN8bio Stock Down 1.9 %

Shares of INAB opened at $1.04 on Friday. The business has a 50-day moving average of $1.13 and a 200-day moving average of $1.15. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.57 and a current ratio of 4.57. IN8bio has a 1 year low of $0.65 and a 1 year high of $3.48.

IN8bio (NASDAQ:INAB) last released its quarterly earnings results on Thursday, March 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.05). Equities research analysts anticipate that IN8bio will post -0.64 EPS for the current fiscal year.

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.