Short Interest in IN8bio, Inc. (NASDAQ:INAB) Expands By 892.2%

IN8bio, Inc. (NASDAQ:INAB) was the target of a large 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. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 342,700 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analysts Forecast Growth

INAB has been the topic of a number of analyst reports. Laidlaw initiated coverage on shares of IN8bio in a report on Monday, March 18th. They set a “buy” rating and a $7.50 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of IN8bio in a report on Wednesday, April 10th.

Institutional Investors Weigh In On IN8bio

Institutional investors have recently added to or reduced their stakes in the business. Voss Capital LLC increased its position in shares of IN8bio by 11.7% during the third quarter. Voss Capital LLC now owns 511,584 shares of the company’s stock valued at $532,000 after buying an additional 53,708 shares during the period. Rock Creek Group LP increased its position in shares of IN8bio by 98.3% during the third quarter. Rock Creek Group LP now owns 151,314 shares of the company’s stock valued at $157,000 after buying an additional 75,000 shares during the period. Texas Capital Bank Wealth Management Services Inc increased its position in shares of IN8bio by 85.2% during the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 78,624 shares of the company’s stock valued at $109,000 after buying an additional 36,179 shares during the period. Finally, AIGH Capital Management LLC bought a new stake in shares of IN8bio during the fourth quarter valued at about $5,216,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

IN8bio Stock Performance

NASDAQ INAB traded down $0.02 during trading on Thursday, hitting $1.04. 69,734 shares of the company’s stock traded hands, compared to its average volume of 311,872. The stock has a market capitalization of $33.27 million, a price-to-earnings ratio of -1.03 and a beta of -0.01. IN8bio has a 12-month low of $0.65 and a 12-month high of $3.48. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.57 and a current ratio of 4.57. The business has a 50 day moving average of $1.13 and a 200-day moving average of $1.15.

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

IN8bio Company Profile

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.