IN8bio, Inc. (NASDAQ:INAB) Sees Significant Growth in Short Interest

IN8bio, Inc. (NASDAQ:INAB) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,670,000 shares, an increase of 108.6% from the February 28th total of 800,500 shares. Based on an average daily trading volume, of 5,130,000 shares, the short-interest ratio is currently 0.3 days. Currently, 2.6% of the company’s stock are short sold.

Institutional Trading of IN8bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC grew its stake in IN8bio by 296.7% during the 4th quarter. Jane Street Group LLC now owns 115,919 shares of the company’s stock worth $30,000 after buying an additional 86,696 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of IN8bio by 56.5% during the fourth quarter. Geode Capital Management LLC now owns 515,193 shares of the company’s stock worth $133,000 after acquiring an additional 185,919 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of IN8bio by 22.3% during the fourth quarter. Sigma Planning Corp now owns 1,041,380 shares of the company’s stock valued at $268,000 after acquiring an additional 190,100 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of IN8bio by 1,064.5% in the 4th quarter. Alyeska Investment Group L.P. now owns 5,063,291 shares of the company’s stock valued at $1,302,000 after purchasing an additional 4,628,482 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in IN8bio in the 4th quarter worth approximately $1,465,000. Hedge funds and other institutional investors own 92.05% of the company’s stock.

IN8bio Stock Down 5.8 %

IN8bio stock traded down $0.01 during trading hours on Friday, reaching $0.20. The stock had a trading volume of 711,858 shares, compared to its average volume of 1,845,954. The company has a market cap of $15.93 million, a price-to-earnings ratio of -0.26 and a beta of 0.03. The business’s 50 day moving average price is $0.26 and its 200-day moving average price is $0.28. IN8bio has a 52 week low of $0.19 and a 52 week high of $1.74. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.84 and a quick ratio of 1.84.

IN8bio (NASDAQ:INAB) last posted its quarterly earnings data on Thursday, March 13th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. Sell-side analysts anticipate that IN8bio will post -0.56 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright cut their price target on IN8bio from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, March 14th.

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.