IN8bio, Inc. (NASDAQ:INAB) Short Interest Update

IN8bio, Inc. (NASDAQ:INAB) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 512,000 shares, an increase of 892.2% from the March 31st total of 51,600 shares. Based on an average daily trading volume, of 342,700 shares, the days-to-cover ratio is currently 1.5 days. Approximately 1.8% of the shares of the stock are short sold.

IN8bio Stock Performance

Shares of INAB stock opened at $1.04 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.57 and a quick ratio of 4.57. The company has a market cap of $33.27 million, a price-to-earnings ratio of -1.03 and a beta of -0.01. The stock has a 50 day simple moving average of $1.13 and a 200-day simple moving average of $1.15. IN8bio has a 1-year low of $0.65 and a 1-year high of $3.48.

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). On average, equities research analysts expect that IN8bio will post -0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Rock Creek Group LP raised its stake in IN8bio by 98.3% in the 3rd quarter. Rock Creek Group LP now owns 151,314 shares of the company’s stock valued at $157,000 after purchasing an additional 75,000 shares during the last quarter. Voss Capital LLC raised its stake in IN8bio by 11.7% in the 3rd quarter. Voss Capital LLC now owns 511,584 shares of the company’s stock valued at $532,000 after purchasing an additional 53,708 shares during the last quarter. AIGH Capital Management LLC acquired a new position in IN8bio in the 4th quarter valued at $5,216,000. Finally, Texas Capital Bank Wealth Management Services Inc raised its stake in IN8bio by 85.2% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 78,624 shares of the company’s stock valued at $109,000 after purchasing an additional 36,179 shares during the last quarter. 92.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of IN8bio in a research note on Wednesday, April 10th. Laidlaw assumed coverage on IN8bio in a research note on Monday, March 18th. They set a “buy” rating and a $7.50 target price for the company.

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.