Short Interest in IN8bio, Inc. (NASDAQ:INAB) Expands By 578.4%

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

IN8bio Price Performance

INAB stock traded up $0.02 during midday trading on Tuesday, hitting $0.35. 441,787 shares of the stock were exchanged, compared to its average volume of 547,612. The stock has a market cap of $16.37 million, a price-to-earnings ratio of -0.40 and a beta of -0.07. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.66 and a current ratio of 2.66. The stock’s 50-day moving average price is $0.30 and its 200-day moving average price is $0.69. IN8bio has a fifty-two week low of $0.22 and a fifty-two week high of $2.48.

Institutional Investors Weigh In On IN8bio

An institutional investor recently raised its position in IN8bio stock. Sigma Planning Corp boosted its holdings in shares of IN8bio, Inc. (NASDAQ:INAB) by 42.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 851,280 shares of the company’s stock after purchasing an additional 251,600 shares during the quarter. Sigma Planning Corp owned about 1.82% of IN8bio worth $230,000 at the end of the most recent quarter. Institutional investors own 92.05% of the company’s stock.

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.