IN8bio, Inc. (NASDAQ:INAB) Sees Large Increase in Short Interest

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

Analyst Ratings Changes

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

IN8bio Stock Down 5.8 %

Shares of NASDAQ INAB traded down $0.01 during mid-day trading on Friday, reaching $0.20. The company had a trading volume of 711,858 shares, compared to its average volume of 1,845,954. The company has a market capitalization of $15.93 million, a price-to-earnings ratio of -0.26 and a beta of 0.03. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a fifty day moving average of $0.26 and a two-hundred day moving average of $0.28. 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 for the quarter, beating the consensus estimate 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

Large investors have recently added to or reduced their stakes in the stock. Sigma Planning Corp boosted its stake in IN8bio by 22.3% during the 4th quarter. Sigma Planning Corp now owns 1,041,380 shares of the company’s stock valued at $268,000 after purchasing an additional 190,100 shares during the period. BIOS Capital Management LP acquired a new stake in IN8bio in the 4th quarter valued at $2,212,000. Jane Street Group LLC grew 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 worth $30,000 after purchasing an additional 86,696 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in shares of IN8bio by 1,064.5% in the fourth 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 stake in IN8bio by 56.5% in the fourth quarter. Geode Capital Management LLC now owns 515,193 shares of the company’s stock worth $133,000 after purchasing an additional 185,919 shares in the last quarter. Institutional investors 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.