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

IN8bio, Inc. (NASDAQ:INAB) saw a large growth in short interest during 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 trading volume of 5,130,000 shares, the short-interest ratio is currently 0.3 days. Approximately 2.6% of the company’s shares are sold short.

Institutional Investors Weigh In On IN8bio

Several hedge funds have recently modified their holdings of the stock. Jane Street Group LLC grew its stake in IN8bio by 296.7% in the fourth quarter. Jane Street Group LLC now owns 115,919 shares of the company’s stock valued at $30,000 after purchasing an additional 86,696 shares in the last quarter. Geode Capital Management LLC increased its position in IN8bio by 56.5% in the 4th 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 during the period. Sigma Planning Corp increased its position in shares of IN8bio by 22.3% during the fourth 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. Alyeska Investment Group L.P. raised 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 buying an additional 4,628,482 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new stake in IN8bio during the fourth quarter valued at approximately $1,465,000. 92.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

IN8bio Stock Down 5.8 %

NASDAQ INAB traded down $0.01 during trading hours on Friday, reaching $0.20. 711,858 shares of the company traded hands, compared to its average volume of 1,845,954. The stock has a market capitalization 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 two-hundred 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 released its quarterly earnings data on Thursday, March 13th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. As a group, equities analysts expect that IN8bio will post -0.56 earnings per share for the current year.

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.