IN8bio, Inc. (NASDAQ:INAB – Get Free Report) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 45,907 shares, a decline of 57.3% from the May 31st total of 107,416 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 55,764 shares, the short-interest ratio is presently 0.8 days.
Hedge Funds Weigh In On IN8bio
Hedge funds and other institutional investors have recently modified their holdings of the company. Alyeska Investment Group L.P. grew 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 worth $2,231,000 after acquiring an additional 875,000 shares during the period. 683 Capital Management LLC bought a new position in IN8bio in the fourth quarter valued at about $1,696,000. Franklin Resources Inc. lifted its holdings in 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 during the period. Two Sigma Investments LP purchased a new position in IN8bio in the third quarter worth about $107,000. Finally, Citadel Advisors LLC purchased a new position in IN8bio in the third quarter worth about $54,000. 92.05% of the stock is owned by institutional investors.
Analysts Set New Price Targets
INAB has been the topic of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating on shares of IN8bio in a report on Thursday, June 4th. Weiss Ratings restated a “sell (e+)” rating on shares of IN8bio in a report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, IN8bio currently has a consensus rating of “Hold” and a consensus price target of $4.00.
IN8bio Stock Performance
Shares of INAB stock traded down $0.02 during trading hours on Tuesday, reaching $1.41. The company had a trading volume of 11,775 shares, compared to its average volume of 67,682. The business has a fifty day moving average price of $1.53 and a 200-day moving average price of $1.74. IN8bio has a one year low of $1.17 and a one year high of $2.73. The firm has a market cap of $13.88 million, a PE ratio of -0.54 and a beta of 0.19.
IN8bio (NASDAQ:INAB – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.33. Equities research analysts forecast that IN8bio will post -1.53 EPS for the current year.
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.
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