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

IN8bio, Inc. (NASDAQ:INAB) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 756,900 shares, a growth of 94.2% from the June 15th total of 389,700 shares. Based on an average trading volume of 552,900 shares, the short-interest ratio is currently 1.4 days. Approximately 2.5% of the company’s shares are sold short.

Institutional Trading of IN8bio

A hedge fund recently bought a new stake in IN8bio stock. AIGH Capital Management LLC acquired a new position in IN8bio, Inc. (NASDAQ:INAB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,098,361 shares of the company’s stock, valued at approximately $5,216,000. IN8bio accounts for approximately 2.1% of AIGH Capital Management LLC’s investment portfolio, making the stock its 20th biggest holding. AIGH Capital Management LLC owned about 12.81% of IN8bio at the end of the most recent quarter. Institutional investors own 92.05% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on INAB. Laidlaw began coverage on shares of IN8bio in a research report on Monday, March 18th. They issued a “buy” rating and a $7.50 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $12.50 target price on shares of IN8bio in a research report on Friday, June 14th.

IN8bio Stock Up 4.5 %

Shares of NASDAQ:INAB traded up $0.04 during midday trading on Friday, reaching $0.88. The company had a trading volume of 72,948 shares, compared to its average volume of 356,270. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.10 and a quick ratio of 4.10. The stock’s fifty day moving average price is $1.03 and its 200-day moving average price is $1.15. The stock has a market capitalization of $38.73 million, a P/E ratio of -0.96 and a beta of 0.06. IN8bio has a one year low of $0.65 and a one year high of $2.48.

IN8bio (NASDAQ:INAB) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). Equities research analysts expect that IN8bio will post -0.6 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.