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

IN8bio, Inc. (NASDAQ:INAB) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,000,000 shares, a growth of 578.4% from the October 15th total of 147,400 shares. Based on an average trading volume of 1,080,000 shares, the short-interest ratio is currently 0.9 days. Approximately 3.1% of the shares of the company are sold short.

Hedge Funds Weigh In On IN8bio

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

IN8bio Price Performance

Shares of INAB stock traded up $0.02 on Tuesday, reaching $0.35. The company’s stock had a trading volume of 441,787 shares, compared to its average volume of 547,612. The company has a market capitalization of $16.37 million, a price-to-earnings ratio of -0.40 and a beta of -0.07. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $0.30 and its 200-day simple moving average is $0.69. IN8bio has a 1 year low of $0.22 and a 1 year high of $2.48.

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.