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

IN8bio, Inc. (NASDAQ:INAB – Get Rating) was the target of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 23,700 shares, an increase of 68.1% from the March 31st total of 14,100 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 45,800 shares, the days-to-cover ratio is presently 0.5 days.

Several analysts recently issued reports on INAB shares. Zacks Investment Research downgraded shares of IN8bio from a “buy” rating to a “hold” rating in a research report on Wednesday, January 12th. B. Riley reduced their price target on shares of IN8bio from $19.00 to $9.00 and set a “buy” rating for the company in a research report on Monday, January 24th.

A number of large investors have recently modified their holdings of INAB. Sigma Planning Corp raised its stake in shares of IN8bio by 241.8% during the 1st quarter. Sigma Planning Corp now owns 97,750 shares of the company’s stock worth $326,000 after purchasing an additional 69,150 shares during the period. Ensign Peak Advisors Inc bought a new stake in shares of IN8bio during the 4th quarter worth $307,000. HighTower Advisors LLC bought a new stake in shares of IN8bio during the 4th quarter worth $44,000. Voss Capital LLC bought a new stake in IN8bio in the 3rd quarter valued at about $555,000. Finally, Millennium Management LLC bought a new stake in IN8bio in the 3rd quarter valued at about $175,000. Institutional investors and hedge funds own 9.61% of the company’s stock.

Shares of NASDAQ:INAB opened at $2.40 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 17.28 and a current ratio of 17.28. The stock’s fifty day simple moving average is $3.61 and its two-hundred day simple moving average is $4.83. IN8bio has a 1-year low of $2.11 and a 1-year high of $10.32.

IN8bio (NASDAQ:INAB – Get Rating) last issued its quarterly earnings data on Thursday, March 17th. The company reported ($0.21) earnings per share for the quarter, meeting the consensus estimate of ($0.21). As a group, research analysts expect that IN8bio will post -1.38 earnings per share for the current fiscal year.

About IN8bio (Get Rating)

IN8bio, Inc, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of gamma-delta T cell therapies for the treatment of cancers. The company develops INB-200, a genetically modified autologous gamma-delta T cell product candidate that is in Phase I clinical trial for the treatment of solid tumors; and INB-100, an allogeneic product candidate, which is in Phase I clinical trial to treat patients with acute leukemia undergoing hematopoietic stem cell transplantation.

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