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

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

Institutional Trading of IN8bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC purchased a new position in shares of IN8bio during the third quarter worth about $54,000. Two Sigma Investments LP acquired a new position in shares of IN8bio during the 3rd quarter worth $107,000. Finally, Stonepine Capital Management LLC acquired a new position in IN8bio during the second quarter worth about $172,000. Institutional investors and hedge funds own 92.05% of the company’s stock.

IN8bio Stock Down 1.5%

IN8bio stock traded down $0.03 during trading on Friday, reaching $1.97. The stock had a trading volume of 36,322 shares, compared to its average volume of 110,980. IN8bio has a 52-week low of $1.17 and a 52-week high of $12.53. The business has a 50 day moving average price of $2.03 and a 200 day moving average price of $2.08. The stock has a market cap of $9.71 million, a PE ratio of -0.36 and a beta of -0.01.

IN8bio (NASDAQ:INAB) last posted its earnings results on Thursday, November 6th. The company reported ($0.85) EPS for the quarter, beating the consensus estimate of ($1.20) by $0.35. On average, equities analysts predict that IN8bio will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.