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

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

IN8bio Stock Down 5.4 %

Shares of INAB stock traded down $0.01 during trading hours on Thursday, reaching $0.25. The company had a trading volume of 894,215 shares, compared to its average volume of 7,938,716. The company has a market capitalization of $18.27 million, a P/E ratio of -0.34 and a beta of 0.05. IN8bio has a twelve month low of $0.22 and a twelve month high of $1.74. The stock’s fifty day simple moving average is $0.28 and its 200 day simple moving average is $0.33. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.84 and a current ratio of 1.84.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. BIOS Capital Management LP acquired a new position in IN8bio during the fourth quarter worth about $2,212,000. Alyeska Investment Group L.P. increased its position in IN8bio by 1,064.5% during the fourth quarter. Alyeska Investment Group L.P. now owns 5,063,291 shares of the company’s stock worth $1,302,000 after buying an additional 4,628,482 shares during the last quarter. Jane Street Group LLC lifted its holdings in IN8bio by 296.7% in the 4th quarter. Jane Street Group LLC now owns 115,919 shares of the company’s stock worth $30,000 after purchasing an additional 86,696 shares during the last quarter. Geode Capital Management LLC grew its stake in IN8bio by 56.5% in the 4th quarter. Geode Capital Management LLC now owns 515,193 shares of the company’s stock valued at $133,000 after buying an additional 185,919 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of IN8bio in the fourth quarter valued at about $1,465,000. 92.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.