Short Interest in IN8bio, Inc. (NASDAQ:INAB) Increases By 461.6%

IN8bio, Inc. (NASDAQ:INAB) was the target of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 139,903 shares, an increase of 461.6% from the July 30th total of 24,913 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily volume of 98,439 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INAB. HRT Financial LP bought a new position in shares of IN8bio in the fourth quarter worth $34,000. Captrust Financial Advisors bought a new stake in IN8bio during the fourth quarter valued at $43,000. Citadel Advisors LLC purchased a new position in IN8bio during the third quarter worth about $54,000. Texas Capital Bank Wealth Management Services Inc purchased a new position in IN8bio during the fourth quarter worth about $56,000. Finally, Two Sigma Investments LP bought a new position in IN8bio in the 3rd quarter worth about $107,000. 92.05% of the stock is owned by institutional investors.

IN8bio Price Performance

INAB stock traded down $0.14 during mid-day trading on Thursday, reaching $1.04. 130,266 shares of the company traded hands, compared to its average volume of 77,517. The company has a fifty day moving average price of $1.23 and a 200-day moving average price of $1.47. IN8bio has a 52-week low of $0.88 and a 52-week high of $2.73. The company has a market capitalization of $10.25 million, a P/E ratio of -0.64 and a beta of 0.24.

IN8bio (NASDAQ:INAB) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.09. As a group, analysts forecast that IN8bio will post -1.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INAB. Weiss Ratings reiterated 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 report on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, IN8bio presently has a consensus rating of “Hold” and an average price target 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.