IN8bio, Inc. (NASDAQ:INAB) Short Interest Up 892.2% in April

IN8bio, Inc. (NASDAQ:INAB) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 512,000 shares, a growth of 892.2% from the March 31st total of 51,600 shares. Based on an average daily trading volume, of 342,700 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.8% of the company’s stock are sold short.

Institutional Trading of IN8bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Texas Capital Bank Wealth Management Services Inc grew its position in shares of IN8bio by 85.2% in the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 78,624 shares of the company’s stock worth $109,000 after acquiring an additional 36,179 shares in the last quarter. Voss Capital LLC lifted its stake in IN8bio by 11.7% during the third quarter. Voss Capital LLC now owns 511,584 shares of the company’s stock worth $532,000 after purchasing an additional 53,708 shares during the last quarter. Rock Creek Group LP boosted its holdings in IN8bio by 98.3% in the third quarter. Rock Creek Group LP now owns 151,314 shares of the company’s stock worth $157,000 after purchasing an additional 75,000 shares during the period. Finally, AIGH Capital Management LLC bought a new stake in IN8bio during the fourth quarter valued at $5,216,000. 92.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on INAB shares. Laidlaw started coverage on IN8bio in a research note on Monday, March 18th. They set a “buy” rating and a $7.50 target price for the company. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of IN8bio in a research note on Wednesday, April 10th.

IN8bio Stock Down 1.9 %

INAB opened at $1.04 on Friday. IN8bio has a 12-month low of $0.65 and a 12-month high of $3.48. The company has a quick ratio of 4.57, a current ratio of 4.57 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average price is $1.13 and its 200 day moving average price is $1.15.

IN8bio (NASDAQ:INAB) last released its earnings results on Thursday, March 14th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.05). On average, equities research analysts anticipate that IN8bio will post -0.64 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.