IN8bio, Inc. (NASDAQ:INAB) Short Interest Up 489.6% in June

IN8bio, Inc. (NASDAQ:INAB) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 389,700 shares, a growth of 489.6% from the May 31st total of 66,100 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 547,100 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analyst Weigh In

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

IN8bio Stock Performance

IN8bio stock opened at $0.85 on Friday. IN8bio has a 52 week low of $0.65 and a 52 week high of $2.48. The stock has a 50-day simple moving average of $1.07 and a 200 day simple moving average of $1.20. The company has a current ratio of 4.10, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02.

IN8bio (NASDAQ:INAB) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). As a group, sell-side analysts forecast that IN8bio will post -0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in IN8bio stock. AIGH Capital Management LLC acquired a new position in shares of IN8bio, Inc. (NASDAQ:INAB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 portfolio, making the stock its 20th largest position. AIGH Capital Management LLC owned approximately 12.81% of IN8bio at the end of the most recent quarter. 92.05% of the stock is owned by institutional investors.

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.