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

IN8bio, Inc. (NASDAQ:INAB) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 963,800 shares, a growth of 12.2% from the November 30th total of 859,300 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average daily volume of 1,220,000 shares, the short-interest ratio is presently 0.8 days.

Institutional Investors Weigh In On IN8bio

A hedge fund recently raised its stake in IN8bio stock. Sigma Planning Corp raised its stake in shares of IN8bio, Inc. (NASDAQ:INAB) by 42.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 851,280 shares of the company’s stock after buying an additional 251,600 shares during the period. Sigma Planning Corp owned about 1.82% of IN8bio worth $230,000 at the end of the most recent quarter. 92.05% of the stock is currently owned by institutional investors and hedge funds.

IN8bio Stock Up 6.1 %

INAB stock opened at $0.27 on Monday. The stock has a market capitalization of $19.57 million, a PE ratio of -0.36 and a beta of 0.01. IN8bio has a 52 week low of $0.22 and a 52 week high of $1.93. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $0.31 and a 200 day moving average of $0.50.

IN8bio (NASDAQ:INAB) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). Sell-side analysts forecast that IN8bio will post -0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.