IN8bio, Inc. (NASDAQ:INAB) Short Interest Up 108.6% in March

IN8bio, Inc. (NASDAQ:INAB) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,670,000 shares, a growth of 108.6% from the February 28th total of 800,500 shares. Currently, 2.6% of the shares of the stock are short sold. Based on an average daily volume of 5,130,000 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC grew its stake in shares of IN8bio by 296.7% during the fourth quarter. Jane Street Group LLC now owns 115,919 shares of the company’s stock valued at $30,000 after acquiring an additional 86,696 shares in the last quarter. Geode Capital Management LLC increased its stake in IN8bio by 56.5% during the fourth quarter. Geode Capital Management LLC now owns 515,193 shares of the company’s stock valued at $133,000 after purchasing an additional 185,919 shares during the last quarter. Sigma Planning Corp lifted its position in shares of IN8bio by 22.3% in the 4th quarter. Sigma Planning Corp now owns 1,041,380 shares of the company’s stock worth $268,000 after buying an additional 190,100 shares during the last quarter. Alyeska Investment Group L.P. raised its stake 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 acquiring an additional 4,628,482 shares during the period. Finally, Franklin Resources Inc. acquired a new position in IN8bio in the fourth quarter valued at approximately $1,465,000. 92.05% of the stock is owned by institutional investors and hedge funds.

IN8bio Trading Down 5.8 %

INAB stock traded down $0.01 during trading on Friday, reaching $0.20. 711,858 shares of the stock traded hands, compared to its average volume of 1,845,954. The business’s 50 day moving average price is $0.26 and its 200-day moving average price is $0.28. The firm has a market capitalization of $15.93 million, a PE ratio of -0.26 and a beta of 0.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.84 and a quick ratio of 1.84. IN8bio has a 52-week low of $0.19 and a 52-week high of $1.74.

IN8bio (NASDAQ:INAB) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. As a group, sell-side analysts forecast that IN8bio will post -0.56 earnings per share for the current year.

Analysts Set New Price Targets

Separately, HC Wainwright lowered their price target on IN8bio from $8.00 to $6.00 and set a “buy” rating for the company in a report on Friday, March 14th.

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.