IN8bio, Inc. (NASDAQ:INAB) Short Interest Update

IN8bio, Inc. (NASDAQ:INAB) was the target of a significant 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. Currently, 2.6% of the shares of the company are sold short. Based on an average daily volume of 5,130,000 shares, the short-interest ratio is currently 0.3 days.

Institutional Trading of IN8bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BIOS Capital Management LP purchased a new stake in IN8bio in the 4th quarter worth approximately $2,212,000. Alyeska Investment Group L.P. lifted its stake 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 period. Jane Street Group LLC boosted its holdings in IN8bio by 296.7% during the fourth 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 in the last quarter. Geode Capital Management LLC boosted its holdings in 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 buying an additional 185,919 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in IN8bio in the fourth quarter valued at $1,465,000. 92.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, HC Wainwright reduced 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 Stock Performance

Shares of INAB stock traded down $0.01 during trading hours 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 stock has a market cap of $15.93 million, a PE ratio of -0.26 and a beta of 0.03. IN8bio has a 12-month low of $0.19 and a 12-month high of $1.74. The company has a 50 day moving average of $0.26 and a 200 day moving average of $0.28. 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 (NASDAQ:INAB) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. On average, sell-side analysts forecast that IN8bio will post -0.56 EPS for the current fiscal year.

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.