IN8bio, Inc. (NASDAQ:INAB) Sees Large Growth in Short Interest

IN8bio, Inc. (NASDAQ:INAB) saw a large increase in short interest during the month of 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. Based on an average daily volume of 184,400 shares, the short-interest ratio is presently 0.5 days. Currently, 0.3% of the company’s shares are short sold.

Hedge Funds Weigh In On IN8bio

A number of hedge funds and other institutional investors have recently made changes to their positions in INAB. Dimensional Fund Advisors LP bought a new position in IN8bio in the fourth quarter worth about $26,000. BlackRock Inc. raised its position in shares of IN8bio by 70.8% in the 1st quarter. BlackRock Inc. now owns 16,334 shares of the company’s stock worth $54,000 after acquiring an additional 6,773 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of IN8bio in the 4th quarter valued at approximately $27,000. Renaissance Technologies LLC bought a new stake in shares of IN8bio during the second quarter valued at approximately $33,000. Finally, Overbrook Management Corp purchased a new stake in IN8bio in the second quarter worth $52,000. Institutional investors own 92.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of IN8bio in a report on Friday, March 15th. Laidlaw assumed coverage on shares of IN8bio in a report on Monday, March 18th. They set a “buy” rating and a $7.50 target price on the stock.

IN8bio Trading Down 3.2 %

INAB stock opened at $1.21 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.57 and a current ratio of 4.57. The firm’s 50-day moving average price is $1.21 and its two-hundred day moving average price is $1.15. IN8bio has a 12-month low of $0.65 and a 12-month high of $3.95.

IN8bio (NASDAQ:INAB) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). As a group, analysts expect that IN8bio will post -0.7 EPS for the current year.

About IN8bio

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.