IN8bio, Inc. (NASDAQ:INAB) Short Interest Down 33.6% in May

IN8bio, Inc. (NASDAQ:INAB) was the target of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 107,416 shares, a drop of 33.6% from the May 14th total of 161,813 shares. Currently, 1.3% of the shares of the company are short sold. Based on an average trading volume of 82,583 shares, the days-to-cover ratio is presently 1.3 days.

IN8bio Stock Performance

Shares of IN8bio stock opened at $1.39 on Tuesday. IN8bio has a fifty-two week low of $1.17 and a fifty-two week high of $2.73. The company has a market capitalization of $13.69 million, a P/E ratio of -0.53 and a beta of 0.19. The company has a fifty day moving average of $1.53 and a 200 day moving average of $1.77.

IN8bio (NASDAQ:INAB) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.33. Analysts forecast that IN8bio will post -1.53 EPS for the current year.

Institutional Investors Weigh In On IN8bio

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Alyeska Investment Group L.P. raised its holdings in IN8bio by 1,060.8% during the fourth quarter. Alyeska Investment Group L.P. now owns 957,484 shares of the company’s stock valued at $2,231,000 after acquiring an additional 875,000 shares during the period. Franklin Resources Inc. raised its holdings in IN8bio by 381.6% during the fourth quarter. Franklin Resources Inc. now owns 914,531 shares of the company’s stock valued at $2,048,000 after acquiring an additional 724,637 shares during the period. 683 Capital Management LLC bought a new stake in IN8bio during the fourth quarter valued at about $1,696,000. Two Sigma Investments LP bought a new stake in IN8bio during the third quarter valued at about $107,000. Finally, Citadel Advisors LLC bought a new stake in IN8bio during the third quarter valued at about $54,000. 92.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on INAB. Weiss Ratings reiterated a “sell (e+)” rating on shares of IN8bio in a research note on Tuesday, April 21st. HC Wainwright reiterated a “buy” rating on shares of IN8bio in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, IN8bio presently has a consensus rating of “Hold” and an average target price of $4.00.

About IN8bio

IN8bio is a clinical-stage biopharmaceutical company developing ?? T cell therapeutic and ?? T cell engager (TCE) product candidates to address unmet medical needs. ?? T cells are
a specialized population of T cells that possess unique properties, including the ability to differentiate between healthy and diseased tissue. The Company’s lead programs consist of INB-100, an allogeneic ?? T cell candidate for adult patients with high-risk
leukemias undergoing haploidentical stem cell transplantation.