IN8bio, Inc. (NASDAQ:INAB) Short Interest Down 33.6% in May

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

IN8bio Trading Up 2.2%

Shares of NASDAQ:INAB traded up $0.03 on Wednesday, hitting $1.41. The company had a trading volume of 17,854 shares, compared to its average volume of 69,627. IN8bio has a 1-year low of $1.17 and a 1-year high of $2.73. The stock has a market cap of $13.89 million, a price-to-earnings ratio of -0.54 and a beta of 0.19. The stock has a 50 day moving average price of $1.52 and a 200 day moving average price of $1.76.

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

Wall Street Analyst Weigh In

INAB has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of IN8bio in a report on Tuesday, April 21st. HC Wainwright restated 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $4.00.

Hedge Funds Weigh In On IN8bio

Several institutional investors and hedge funds have recently modified their holdings of the stock. Alyeska Investment Group L.P. increased its holdings in shares of IN8bio by 1,060.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 957,484 shares of the company’s stock valued at $2,231,000 after purchasing an additional 875,000 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of IN8bio by 381.6% in the fourth quarter. Franklin Resources Inc. now owns 914,531 shares of the company’s stock valued at $2,048,000 after acquiring an additional 724,637 shares in the last quarter. 683 Capital Management LLC acquired a new position in shares of IN8bio in the fourth quarter valued at about $1,696,000. Two Sigma Investments LP acquired a new position in shares of IN8bio in the third quarter valued at about $107,000. Finally, Citadel Advisors LLC acquired a new position in shares of IN8bio in the third quarter valued at about $54,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

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.