IN8bio, Inc. (NASDAQ:INAB) Sees Significant Growth in Short Interest

IN8bio, Inc. (NASDAQ:INAB) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 1,340,000 shares, a growth of 34.0% from the October 31st total of 1,000,000 shares. Based on an average daily trading volume, of 1,100,000 shares, the days-to-cover ratio is presently 1.2 days. Approximately 2.7% of the shares of the stock are sold short.

IN8bio Price Performance

IN8bio stock opened at $0.30 on Monday. The company has a fifty day simple moving average of $0.30 and a 200-day simple moving average of $0.62. The firm has a market capitalization of $22.08 million, a price-to-earnings ratio of -0.41 and a beta of -0.07. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.05. IN8bio has a 52-week low of $0.22 and a 52-week high of $2.48.

IN8bio (NASDAQ:INAB) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). On average, equities analysts anticipate that IN8bio will post -0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On IN8bio

A hedge fund recently raised its stake in IN8bio stock. Sigma Planning Corp lifted its stake in shares of IN8bio, Inc. (NASDAQ:INAB) by 42.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 851,280 shares of the company’s stock after acquiring an additional 251,600 shares during the period. Sigma Planning Corp owned 1.82% of IN8bio worth $230,000 as of its most recent filing with the Securities & Exchange Commission. 92.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and set a $8.00 price objective on shares of IN8bio in a research note on Tuesday, November 26th.

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.