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

IN8bio, Inc. (NASDAQ:INAB) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totaling 118,045 shares, a decrease of 57.6% from the December 31st total of 278,120 shares. Based on an average daily trading volume, of 141,971 shares, the days-to-cover ratio is currently 0.8 days. Currently, 2.6% of the shares of the company are sold short. Currently, 2.6% of the shares of the company are sold short. Based on an average daily trading volume, of 141,971 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Stonepine Capital Management LLC bought a new position in shares of IN8bio in the second quarter valued at approximately $172,000. Two Sigma Investments LP acquired a new position in shares of IN8bio during the third quarter valued at about $107,000. Finally, Citadel Advisors LLC bought a new stake in shares of IN8bio in the 3rd quarter worth approximately $54,000. 92.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

INAB has been the subject of several recent analyst reports. Zacks Research upgraded shares of IN8bio to a “hold” rating in a research report on Thursday, January 15th. Mizuho set a $4.00 target price on IN8bio in a research note on Monday, October 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of IN8bio in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, IN8bio presently has an average rating of “Hold” and an average price target of $92.00.

IN8bio Stock Performance

Shares of INAB stock traded up $0.04 during trading on Thursday, hitting $2.00. 62,973 shares of the company were exchanged, compared to its average volume of 116,762. The business’s 50-day simple moving average is $2.02 and its 200 day simple moving average is $2.08. The firm has a market capitalization of $9.86 million, a price-to-earnings ratio of -0.37 and a beta of -0.01. IN8bio has a twelve month low of $1.17 and a twelve month high of $12.53.

IN8bio (NASDAQ:INAB) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.85) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.35. On average, equities analysts forecast that IN8bio will post -0.56 earnings per share for the current fiscal year.

About IN8bio

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.