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

IN8bio, Inc. (NASDAQ:INAB) was the recipient of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 3,760,000 shares, an increase of 768.0% from the January 31st total of 433,200 shares. Based on an average daily volume of 4,930,000 shares, the days-to-cover ratio is currently 0.8 days. Approximately 6.5% of the company’s shares are short sold.

Analyst Ratings Changes

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

Hedge Funds Weigh In On IN8bio

A number of hedge funds have recently made changes to their positions in INAB. Jane Street Group LLC raised its stake 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 during the last quarter. Geode Capital Management LLC grew its holdings in IN8bio by 56.5% during the 4th quarter. Geode Capital Management LLC now owns 515,193 shares of the company’s stock worth $133,000 after acquiring an additional 185,919 shares during the period. Sigma Planning Corp grew its holdings in IN8bio by 42.0% in the third quarter. Sigma Planning Corp now owns 851,280 shares of the company’s stock worth $230,000 after purchasing an additional 251,600 shares during the period. Alyeska Investment Group L.P. increased its stake in 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 purchasing an additional 4,628,482 shares in the last quarter. Finally, Franklin Resources Inc. bought a new position in shares of IN8bio during the 4th quarter worth about $1,465,000. 92.05% of the stock is currently owned by institutional investors.

IN8bio Price Performance

Shares of NASDAQ INAB traded up $0.02 during mid-day trading on Friday, hitting $0.27. 2,848,412 shares of the stock traded hands, compared to its average volume of 7,817,839. IN8bio has a twelve month low of $0.22 and a twelve month high of $1.74. The firm has a 50 day simple moving average of $0.28 and a two-hundred day simple moving average of $0.32. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $19.51 million, a PE ratio of -0.36 and a beta 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.