IN8bio, Inc. (NASDAQ:INAB – Get Rating) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 33,800 shares, a decline of 17.2% from the August 15th total of 40,800 shares. Based on an average trading volume of 1,300,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.8% of the company's stock are short sold.
Wall Street Analyst Weigh In
Separately, HC Wainwright assumed coverage on IN8bio in a research report on Tuesday, August 30th. They issued a "buy" rating and a $14.00 price target for the company.
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Insiders Place Their Bets
In other IN8bio news, CEO William Tai-Wei Ho purchased 26,315 shares of the stock in a transaction dated Tuesday, August 16th. The shares were purchased at an average cost of $1.90 per share, with a total value of $49,998.50. Following the completion of the acquisition, the chief executive officer now directly owns 2,315,745 shares in the company, valued at approximately $4,399,915.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO William Tai-Wei Ho acquired 26,315 shares of IN8bio stock in a transaction that occurred on Tuesday, August 16th. The stock was bought at an average price of $1.90 per share, for a total transaction of $49,998.50. Following the completion of the transaction, the chief executive officer now owns 2,315,745 shares in the company, valued at $4,399,915.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Emily Fairbairn acquired 789,473 shares of IN8bio stock in a transaction that occurred on Tuesday, August 16th. The shares were purchased at an average price of $1.90 per share, with a total value of $1,499,998.70. Following the transaction, the director now owns 4,111,958 shares of the company's stock, valued at approximately $7,812,720.20. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 824,208 shares of company stock valued at $1,565,995. 35.80% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On IN8bio
A number of hedge funds have recently made changes to their positions in INAB. HighTower Advisors LLC bought a new position in shares of IN8bio in the fourth quarter worth about $44,000. Ensign Peak Advisors Inc bought a new position in shares of IN8bio in the fourth quarter worth about $307,000. Sigma Planning Corp boosted its stake in shares of IN8bio by 241.8% in the first quarter. Sigma Planning Corp now owns 97,750 shares of the company's stock worth $326,000 after acquiring an additional 69,150 shares during the period. Rock Creek Group LP boosted its stake in IN8bio by 87.5% during the first quarter. Rock Creek Group LP now owns 86,032 shares of the company's stock valued at $299,000 after buying an additional 40,160 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in IN8bio by 70.8% during the first quarter. BlackRock Inc. now owns 16,334 shares of the company's stock valued at $54,000 after buying an additional 6,773 shares during the last quarter. Institutional investors own 12.98% of the company's stock.
IN8bio Stock Down 2.4 %
INAB traded down $0.06 during midday trading on Monday, reaching $2.45. The company had a trading volume of 78,388 shares, compared to its average volume of 506,486. The business has a 50-day moving average of $2.26 and a two-hundred day moving average of $2.68. The company has a market cap of $46.15 million, a P/E ratio of -2.15 and a beta of 0.31. IN8bio has a 1 year low of $1.75 and a 1 year high of $9.42.
IN8bio (NASDAQ:INAB – Get Rating) last issued its quarterly earnings results on Friday, August 12th. The company reported ($0.38) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($0.05). On average, equities research analysts predict that IN8bio will post -1.29 EPS for the current year.
IN8bio Company Profile
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IN8bio, Inc, a clinical-stage biotechnology company, focuses on the discovery, development, and commercialization of gamma-delta T cell therapies for the treatment of cancers. Its lead product candidate includes 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; and INB-100, an allogeneic product candidate, which is in Phase I clinical trial to treat patients with acute leukemia undergoing hematopoietic stem cell transplantation.
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