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

IN8bio, Inc. (NASDAQ:INAB) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 800,500 shares, a decline of 78.7% from the February 13th total of 3,760,000 shares. Based on an average daily trading volume, of 5,060,000 shares, the short-interest ratio is currently 0.2 days. Currently, 1.2% of the company’s stock are short sold.

Analysts Set New Price Targets

Separately, HC Wainwright restated a “buy” rating and set a $8.00 price target on shares of IN8bio in a research note on Wednesday, February 12th.

Hedge Funds Weigh In On IN8bio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sigma Planning Corp boosted its holdings in shares of IN8bio by 42.0% in the third quarter. Sigma Planning Corp now owns 851,280 shares of the company’s stock valued at $230,000 after acquiring an additional 251,600 shares in the last quarter. BIOS Capital Management LP acquired a new position in IN8bio during the 4th quarter worth approximately $2,212,000. AIGH Capital Management LLC raised its stake in shares of IN8bio by 269.7% during the 4th quarter. AIGH Capital Management LLC now owns 6,191,865 shares of the company’s stock worth $1,593,000 after buying an additional 4,517,227 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of IN8bio in the 4th quarter valued at approximately $1,465,000. Finally, Geode Capital Management LLC boosted its stake 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 buying an additional 185,919 shares in the last quarter. 92.05% of the stock is currently owned by hedge funds and other institutional investors.

IN8bio Stock Performance

Shares of NASDAQ INAB traded up $0.00 during midday trading on Wednesday, reaching $0.25. 675,576 shares of the company were exchanged, compared to its average volume of 6,769,527. The stock has a market cap of $20.07 million, a P/E ratio of -0.33 and a beta of 0.03. IN8bio has a 1 year low of $0.22 and a 1 year high of $1.74. The stock has a fifty day simple moving average of $0.28 and a 200 day simple moving average of $0.30. 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 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.