IN8bio, Inc. (NASDAQ:INAB) Short Interest Up 296.3% in March

IN8bio, Inc. (NASDAQ:INAB) was the target 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 presently 0.5 days. Currently, 0.3% of the company’s stock are short sold.

Institutional Trading of IN8bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Overbrook Management Corp purchased a new stake in IN8bio during the 2nd quarter valued at approximately $52,000. Rock Creek Group LP raised its stake in shares of IN8bio by 98.3% during the 3rd quarter. Rock Creek Group LP now owns 151,314 shares of the company’s stock worth $157,000 after buying an additional 75,000 shares in the last quarter. Voss Capital LLC raised its stake in shares of IN8bio by 11.7% during the 3rd quarter. Voss Capital LLC now owns 511,584 shares of the company’s stock worth $532,000 after buying an additional 53,708 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of IN8bio during the 2nd quarter worth approximately $89,000. Finally, BlackRock Inc. raised its stake in shares of IN8bio by 38.3% during the 2nd quarter. BlackRock Inc. now owns 45,091 shares of the company’s stock worth $69,000 after buying an additional 12,492 shares in the last quarter. 92.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on INAB. Laidlaw began coverage on IN8bio in a research report on Monday, March 18th. They set a “buy” rating and a $7.50 price objective for the company. HC Wainwright reissued a “buy” rating and issued a $14.00 target price on shares of IN8bio in a research report on Friday, March 15th.

IN8bio Stock Performance

Shares of NASDAQ INAB traded down $0.03 during trading hours on Friday, reaching $1.18. The stock had a trading volume of 93,516 shares, compared to its average volume of 194,332. The company has a quick ratio of 4.57, a current ratio of 4.57 and a debt-to-equity ratio of 0.02. IN8bio has a fifty-two week low of $0.65 and a fifty-two week high of $3.95. The firm has a 50-day moving average of $1.20 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). As a group, equities research analysts expect that IN8bio will post -0.7 earnings per share for the current fiscal year.

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.