Short Interest in IN8bio, Inc. (NASDAQ:INAB) Increases By 578.4%

Posted by Trevor Kearing on Nov 14th, 2024

IN8bio, Inc. (NASDAQ:INAB – Get Free Report) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 1,000,000 shares, a growth of 578.4% from the October 15th total of 147,400 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is presently 0.9 days.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright lowered their price target on IN8bio from $12.50 to $8.00 and set a “buy” rating for the company in a report on Wednesday.

Read Our Latest Report on INAB

Hedge Funds Weigh In On IN8bio

An institutional investor recently raised its position in IN8bio stock. Sigma Planning Corp grew its position in IN8bio, Inc. (NASDAQ:INAB – Free Report) by 42.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 851,280 shares of the company’s stock after purchasing an additional 251,600 shares during the period. Sigma Planning Corp owned approximately 1.82% of IN8bio worth $230,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 92.05% of the company’s stock.

IN8bio Stock Performance

Shares of IN8bio stock traded up $0.03 on Thursday, reaching $0.35. 279,101 shares of the company were exchanged, compared to its average volume of 547,170. The firm has a market cap of $16.38 million, a price-to-earnings ratio of -0.42 and a beta of -0.07. The company’s 50-day moving average is $0.30 and its two-hundred day moving average is $0.68. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.66 and a current ratio of 2.66. IN8bio has a 1-year low of $0.22 and a 1-year high of $2.48.

About IN8bio

(Get Free Report)

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.