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

IN8bio, Inc. (NASDAQ:INAB) was the recipient of a large increase in short interest in 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 trading volume of 184,400 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.3% of the company’s stock are short sold.

Institutional Trading of IN8bio

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP acquired a new stake in shares of IN8bio in the fourth quarter worth $26,000. Citadel Advisors LLC acquired a new position in IN8bio during the fourth quarter valued at $27,000. Renaissance Technologies LLC purchased a new stake in IN8bio in the second quarter valued at $33,000. Overbrook Management Corp acquired a new stake in IN8bio during the 2nd quarter worth about $52,000. Finally, BlackRock Inc. raised its stake in shares of IN8bio by 70.8% during the 1st quarter. BlackRock Inc. now owns 16,334 shares of the company’s stock valued at $54,000 after buying an additional 6,773 shares during the last quarter. Hedge funds and other institutional investors own 92.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

IN8bio Price Performance

INAB stock opened at $1.21 on Thursday. IN8bio has a 52 week low of $0.65 and a 52 week high of $3.95. The company has a current ratio of 4.57, a quick ratio of 4.57 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $1.21 and a 200 day moving average of $1.15.

IN8bio (NASDAQ:INAB) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.05). Equities analysts predict that IN8bio will post -0.7 EPS for the current fiscal year.

IN8bio Company Profile

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.