Short Interest in IN8bio, Inc. (NASDAQ:INAB) Decreases By 40.8%

IN8bio, Inc. (NASDAQ:INAB) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totaling 20,789 shares, a decline of 40.8% from the June 30th total of 35,117 shares. Based on an average daily trading volume, of 53,283 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.2% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INAB. Two Sigma Investments LP bought a new stake in shares of IN8bio in the 3rd quarter valued at about $107,000. Citadel Advisors LLC bought a new position in IN8bio during the third quarter worth about $54,000. Texas Capital Bank Wealth Management Services Inc bought a new position in IN8bio during the fourth quarter worth about $56,000. Franklin Resources Inc. increased its position in IN8bio by 381.6% during the fourth quarter. Franklin Resources Inc. now owns 914,531 shares of the company’s stock worth $2,048,000 after buying an additional 724,637 shares during the last quarter. Finally, HRT Financial LP acquired a new position in IN8bio during the fourth quarter worth approximately $34,000. 92.05% of the stock is currently owned by institutional investors and hedge funds.

IN8bio Stock Up 0.9%

Shares of NASDAQ:INAB traded up $0.01 during midday trading on Thursday, hitting $1.08. The stock had a trading volume of 82,625 shares, compared to its average volume of 65,754. IN8bio has a 12 month low of $0.96 and a 12 month high of $2.73. The business’s 50-day simple moving average is $1.44 and its 200-day simple moving average is $1.64. The company has a market cap of $10.64 million, a P/E ratio of -0.41 and a beta of 0.22.

IN8bio (NASDAQ:INAB) last issued its earnings results on Thursday, May 7th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.33. As a group, equities analysts predict that IN8bio will post -1.53 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on INAB shares. HC Wainwright restated a “buy” rating on shares of IN8bio in a report on Thursday, June 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of IN8bio in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, IN8bio currently has a consensus rating of “Hold” and a consensus target price 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.