IN8bio, Inc. (NASDAQ:INAB) Sees Significant Increase in Short Interest

IN8bio, Inc. (NASDAQ:INAB) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 389,700 shares, a growth of 489.6% from the May 31st total of 66,100 shares. Based on an average daily volume of 547,100 shares, the short-interest ratio is currently 0.7 days. Approximately 1.3% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and set a $12.50 price objective on shares of IN8bio in a research note on Friday, June 14th. Laidlaw started coverage on shares of IN8bio in a research note on Monday, March 18th. They set a “buy” rating and a $7.50 price objective on the stock.

IN8bio Stock Performance

Shares of NASDAQ:INAB traded down $0.05 during trading hours on Friday, hitting $0.85. The stock had a trading volume of 341,658 shares, compared to its average volume of 371,617. The stock’s fifty day simple moving average is $1.07 and its 200 day simple moving average is $1.20. IN8bio has a 1-year low of $0.65 and a 1-year high of $2.48. The firm has a market capitalization of $37.35 million, a price-to-earnings ratio of -0.97 and a beta of 0.14. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.10.

IN8bio (NASDAQ:INAB) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). Sell-side analysts anticipate that IN8bio will post -0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On IN8bio

A hedge fund recently raised its stake in IN8bio stock. Texas Capital Bank Wealth Management Services Inc grew its position in shares of IN8bio, Inc. (NASDAQ:INAB) by 85.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 78,624 shares of the company’s stock after purchasing an additional 36,179 shares during the quarter. Texas Capital Bank Wealth Management Services Inc owned 0.25% of IN8bio worth $109,000 as of its most recent filing with the SEC. Institutional investors own 92.05% of the company’s stock.

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.