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

IN8bio, Inc. (NASDAQ:INAB) was the target of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 107,416 shares, a drop of 33.6% from the May 14th total of 161,813 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average daily volume of 82,583 shares, the short-interest ratio is presently 1.3 days.

Hedge Funds Weigh In On IN8bio

Several large investors have recently bought and sold shares of the company. 683 Capital Management LLC acquired a new stake in shares of IN8bio in the fourth quarter valued at about $1,696,000. Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of IN8bio in the fourth quarter valued at about $56,000. HRT Financial LP acquired a new stake in shares of IN8bio in the fourth quarter valued at about $34,000. Citadel Advisors LLC acquired a new stake in shares of IN8bio in the third quarter valued at about $54,000. Finally, Two Sigma Investments LP acquired a new stake in shares of IN8bio in the third quarter valued at about $107,000. 92.05% of the stock is currently owned by institutional investors.

IN8bio Price Performance

Shares of NASDAQ INAB opened at $1.47 on Thursday. The stock has a market capitalization of $14.48 million, a PE ratio of -0.56 and a beta of 0.19. The business has a fifty day moving average price of $1.53 and a two-hundred day moving average price of $1.76. IN8bio has a fifty-two week low of $1.17 and a fifty-two week high of $2.73.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. HC Wainwright reaffirmed a “buy” rating on shares of IN8bio in a report on Thursday, June 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IN8bio in a report on Tuesday, April 21st. One 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 company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.00.

IN8bio Company Profile

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.