IN8bio, Inc. (NASDAQ:INAB) Short Interest Up 296.3% in March

IN8bio, Inc. (NASDAQ:INAB) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 84,800 shares, an increase of 296.3% from the February 29th total of 21,400 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 184,400 shares, the short-interest ratio is presently 0.5 days.

IN8bio Stock Down 2.5 %

Shares of NASDAQ INAB traded down $0.03 during mid-day trading on Friday, reaching $1.18. 93,516 shares of the company were exchanged, compared to its average volume of 194,332. The company has a current ratio of 4.57, a quick ratio of 4.57 and a debt-to-equity ratio of 0.02. IN8bio has a 1 year low of $0.65 and a 1 year high of $3.95. The firm has a 50-day moving average of $1.20 and a 200 day moving average of $1.15.

IN8bio (NASDAQ:INAB) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). On average, equities analysts predict that IN8bio will post -0.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in INAB. AIGH Capital Management LLC acquired a new position in shares of IN8bio in the fourth quarter valued at about $5,216,000. Geode Capital Management LLC increased its holdings in shares of IN8bio by 205.2% in the second quarter. Geode Capital Management LLC now owns 176,561 shares of the company’s stock valued at $272,000 after purchasing an additional 118,715 shares during the period. Vanguard Group Inc. increased its holdings in shares of IN8bio by 23.0% in the fourth quarter. Vanguard Group Inc. now owns 416,696 shares of the company’s stock valued at $575,000 after purchasing an additional 77,968 shares during the period. Rock Creek Group LP increased its holdings in shares of IN8bio by 98.3% in the third quarter. Rock Creek Group LP now owns 151,314 shares of the company’s stock valued at $157,000 after purchasing an additional 75,000 shares during the period. Finally, State Street Corp acquired a new position in shares of IN8bio in the second quarter valued at about $91,000. 92.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Laidlaw began coverage on IN8bio in a research note on Monday, March 18th. They issued a “buy” rating and a $7.50 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price objective on shares of IN8bio in a research report on Friday, March 15th.

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.