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

IN8bio, Inc. (NASDAQ:INAB) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 1,000,000 shares, a growth of 578.4% from the October 15th total of 147,400 shares. Based on an average trading volume of 1,080,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 3.1% of the shares of the stock are short sold.

IN8bio Stock Performance

Shares of INAB stock traded down $0.03 during trading hours on Wednesday, hitting $0.32. 396,064 shares of the company’s stock were exchanged, compared to its average volume of 546,923. IN8bio has a 12-month low of $0.22 and a 12-month high of $2.48. The business’s 50 day simple moving average is $0.30 and its 200-day simple moving average is $0.68. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.04.

Wall Street Analyst Weigh In

Separately, HC Wainwright decreased their price target on shares of IN8bio from $12.50 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IN8bio stock. Sigma Planning Corp lifted its position in IN8bio, Inc. (NASDAQ:INAB) by 42.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 851,280 shares of the company’s stock after purchasing an additional 251,600 shares during the period. Sigma Planning Corp owned about 1.82% of IN8bio worth $230,000 as of its most recent SEC filing. Institutional investors and hedge funds own 92.05% of the company’s stock.

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.