IN8bio, Inc. (NASDAQ:INAB) Short Interest Up 34.0% in November

IN8bio, Inc. (NASDAQ:INAB) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,340,000 shares, an increase of 34.0% from the October 31st total of 1,000,000 shares. Approximately 2.7% of the company’s stock are sold short. Based on an average trading volume of 1,100,000 shares, the short-interest ratio is currently 1.2 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in IN8bio stock. Sigma Planning Corp raised its position in shares of IN8bio, Inc. (NASDAQ:INAB) by 42.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 851,280 shares of the company’s stock after acquiring an additional 251,600 shares during the period. Sigma Planning Corp owned approximately 1.82% of IN8bio worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 92.05% of the company’s stock.

Wall Street Analysts Forecast Growth

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

IN8bio Stock Performance

NASDAQ:INAB opened at $0.30 on Friday. The stock has a 50-day moving average price of $0.30 and a 200 day moving average price of $0.63. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.05. IN8bio has a 12-month low of $0.22 and a 12-month high of $2.48. The stock has a market capitalization of $22.08 million, a P/E ratio of -0.41 and a beta of -0.07.

IN8bio (NASDAQ:INAB) last released 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). Equities research analysts forecast that IN8bio will post -0.56 EPS for the current fiscal year.

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.