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

IN8bio, Inc. (NASDAQ:INAB) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 756,900 shares, a growth of 94.2% from the June 15th total of 389,700 shares. Approximately 2.5% of the shares of the company are sold short. Based on an average daily volume of 552,900 shares, the days-to-cover ratio is currently 1.4 days.

IN8bio Stock Performance

INAB traded up $0.04 during trading on Friday, hitting $0.88. The stock had a trading volume of 72,948 shares, compared to its average volume of 356,270. The company has a 50 day moving average price of $1.03 and a 200-day moving average price of $1.15. The firm has a market cap of $38.73 million, a price-to-earnings ratio of -0.96 and a beta of 0.06. IN8bio has a one year low of $0.65 and a one year high of $2.48. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.10 and a quick ratio of 4.10.

IN8bio (NASDAQ:INAB) last released its earnings results on Thursday, May 9th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). As a group, research analysts predict that IN8bio will post -0.6 EPS for the current year.

Analyst Upgrades and Downgrades

INAB has been the subject of several recent research reports. HC Wainwright restated a “buy” rating and issued a $12.50 price target on shares of IN8bio in a research note on Friday, June 14th. Laidlaw initiated coverage on IN8bio in a research note on Monday, March 18th. They issued a “buy” rating and a $7.50 price target for the company.

Institutional Trading of IN8bio

A hedge fund recently raised its stake in IN8bio stock. Texas Capital Bank Wealth Management Services Inc grew its stake in shares of IN8bio, Inc. (NASDAQ:INAB) by 85.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 78,624 shares of the company’s stock after acquiring an additional 36,179 shares during the quarter. Texas Capital Bank Wealth Management Services Inc owned about 0.25% of IN8bio worth $109,000 as of its most recent SEC filing. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

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.