IN8bio, Inc. (NASDAQ:INAB) Short Interest Down 35.1% in August

IN8bio, Inc. (NASDAQ:INAB) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 90,842 shares, a drop of 35.1% from the August 15th total of 139,903 shares. Based on an average daily trading volume, of 55,295 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.1% of the shares of the company are short sold.

Hedge Funds Weigh In On IN8bio

A hedge fund recently bought a new position in IN8bio stock. Texas Capital Bank Wealth Management Services Inc acquired a new position in shares of IN8bio, Inc. (NASDAQ:INAB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 23,750 shares of the company’s stock, valued at approximately $56,000. Texas Capital Bank Wealth Management Services Inc owned 0.24% of IN8bio as of its most recent SEC filing. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of IN8bio in a research note on Friday, July 17th. HC Wainwright reiterated a “buy” rating on shares of IN8bio in a research note on Thursday, June 4th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $4.00.

IN8bio Stock Up 5.9%

NASDAQ INAB traded up $0.06 during trading on Thursday, hitting $1.07. 47,945 shares of the stock traded hands, compared to its average volume of 64,555. The company has a market capitalization of $10.55 million, a P/E ratio of -0.66 and a beta of 0.30. The firm has a 50-day simple moving average of $1.15 and a 200-day simple moving average of $1.41. IN8bio has a 12-month low of $0.88 and a 12-month high of $2.73.

IN8bio (NASDAQ:INAB) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.09. As a group, research analysts predict that IN8bio will post -1.25 EPS for the current fiscal year.

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.