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

IN8bio, Inc. (NASDAQ:INAB) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totaling 38,725 shares, a growth of 79.2% from the November 30th total of 21,609 shares. Approximately 1.0% of the company’s stock are short sold. Based on an average trading volume of 46,314 shares, the days-to-cover ratio is currently 0.8 days. Based on an average trading volume of 46,314 shares, the days-to-cover ratio is currently 0.8 days. Approximately 1.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in INAB. Stonepine Capital Management LLC purchased a new stake in IN8bio in the second quarter valued at about $172,000. Citadel Advisors LLC acquired a new position in shares of IN8bio during the third quarter valued at about $54,000. Finally, Two Sigma Investments LP purchased a new position in shares of IN8bio in the 3rd quarter valued at approximately $107,000. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

IN8bio Stock Down 9.9%

Shares of IN8bio stock opened at $2.01 on Tuesday. The company has a market cap of $8.48 million, a P/E ratio of -0.37 and a beta of 0.02. The firm’s 50 day moving average price is $1.79 and its 200-day moving average price is $2.06. IN8bio has a 52-week low of $1.17 and a 52-week high of $12.53.

IN8bio (NASDAQ:INAB) last posted its earnings results on Thursday, November 6th. The company reported ($0.85) EPS for the quarter, beating analysts’ consensus estimates of ($1.20) by $0.35. As a group, equities research analysts forecast that IN8bio will post -0.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on INAB shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of IN8bio in a report on Wednesday, October 8th. Mizuho set a $4.00 price objective on shares of IN8bio in a research note on Monday, October 13th. Finally, Zacks Research raised shares of IN8bio from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, IN8bio presently has an average rating of “Hold” and an average target price of $92.00.

IN8bio Company Profile

IN8bio, Inc (NASDAQ: INAB) is a clinical-stage biotechnology company focused on the development of novel immunotherapies for the treatment of cancer and neurodegenerative disorders. The company leverages insights into the body’s innate and adaptive immune systems to engineer cell-based products designed to target solid tumors, brain injuries and cognitive decline.

IN8bio’s pipeline is built on two proprietary platforms. The ENACT™ platform centers on allogeneic gamma delta T cell therapies aimed at solid tumors, with lead candidates advancing through early-stage clinical trials in glioblastoma and other oncology indications.