Short Interest in IN8bio, Inc. (NASDAQ:INAB) Grows By 108.6%

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 volume of 5,130,000 shares, the short-interest ratio is presently 0.3 days. Approximately 2.6% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright dropped their price objective on IN8bio from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, March 14th.

IN8bio Trading Down 5.8 %

Shares of NASDAQ INAB traded down $0.01 during midday trading on Friday, hitting $0.20. The company’s stock had a trading volume of 711,858 shares, compared to its average volume of 1,845,954. The business’s 50 day moving average is $0.26 and its two-hundred day moving average is $0.28. The firm has a market cap of $15.93 million, a P/E ratio of -0.26 and a beta of 0.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.05. IN8bio has a 12-month low of $0.19 and a 12-month high of $1.74.

IN8bio (NASDAQ:INAB) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. As a group, equities research analysts expect that IN8bio will post -0.56 EPS for the current year.

Institutional Investors Weigh In On IN8bio

A number of hedge funds and other institutional investors have recently made changes to their positions in INAB. Sigma Planning Corp lifted its position in IN8bio by 22.3% during the fourth quarter. Sigma Planning Corp now owns 1,041,380 shares of the company’s stock worth $268,000 after buying an additional 190,100 shares in the last quarter. BIOS Capital Management LP acquired a new position in IN8bio in the fourth quarter valued at $2,212,000. Jane Street Group LLC increased its holdings in shares of IN8bio by 296.7% in the 4th quarter. Jane Street Group LLC now owns 115,919 shares of the company’s stock valued at $30,000 after acquiring an additional 86,696 shares during the period. Alyeska Investment Group L.P. raised its stake in IN8bio by 1,064.5% during 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 acquiring an additional 4,628,482 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of IN8bio by 56.5% in the fourth quarter. Geode Capital Management LLC now owns 515,193 shares of the company’s stock valued at $133,000 after acquiring an additional 185,919 shares in the last quarter. Institutional investors and hedge funds own 92.05% of the company’s stock.

IN8bio Company Profile

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.