IN8bio stock price target cut to $6 at H.C. Wainwright
Investing.com
Published Mar 17, 2025 07:28AM ET
Monday, H.C. Wainwright maintained its Buy rating on IN8bio Inc. (NASDAQ:INAB) but reduced the price target from $8.00 to $6.00. The adjustment follows IN8bio's recent capital raise, which led the firm to revise its expectations for the biotechnology company's stock value. Currently trading at $0.22, the stock has declined over 80% in the past year and sits near its 52-week low of $0.21. InvestingPro analysis indicates the stock may be undervalued at current levels.
IN8bio is in the process of developing an innovative γδ T-cell engager platform aimed at treating various cancers and autoimmune diseases. Their forefront product, INB-619, is designed to target CD19 and has shown promise in preclinical studies. The studies suggest INB-619's capability to deplete B cells and activate both types of γδ T-cells, all while maintaining a safety profile that could be advantageous over traditional T-cell engagers. According to InvestingPro data, the company maintains a strong current ratio of 4.08 and holds more cash than debt, though it's currently burning through cash reserves rapidly.
The company has announced plans to share preclinical data on INB-619 at upcoming medical meetings in the second quarter of 2025. This presentation is part of IN8bio's strategy to attract partnerships for advancing the clinical development of their leading candidate.
H.C. Wainwright's analyst reaffirmed the Buy rating, signaling confidence in IN8bio's potential despite the recent price target adjustment. The firm's decision to lower the target to $6.00 is attributed to the dilutive effect of the capital raised by IN8bio, which could impact the near-term value of the company's shares. However, the maintained Buy rating reflects a continued positive outlook on the company's long-term prospects.
In other recent news, IN8bio, Inc. has reported promising Phase 1 trial results for its INB-100 therapy in treating acute myeloid leukemia (AML). The trial showed that 100% of patients treated post-transplant remained in complete remission, with a median follow-up of 20.1 months. This achievement surpasses historical control groups and highlights the therapy's potential to revolutionize post-transplant care in hematologic oncology. Additionally, IN8bio received an upgrade from Jones Trading, with analyst Soumit Roy raising the stock rating from Hold to Buy, citing the positive results of the INB-100 treatment. The firm set a new price target of $1.20, noting the therapy's effectiveness compared to real-world data.
IN8bio also announced a leadership change with the resignation of board member Travis Whitfill, effective May 9, 2025. The company clarified that his departure was not due to any disagreements with the firm’s operations or policies. Furthermore, IN8bio has been granted an extension by Nasdaq to meet the minimum bid price rule, giving the company until August 4, 2025, to comply. The firm is exploring strategies such as a reverse stock split to address the bid price deficiency.
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The company's board has scheduled the 2025 Annual Meeting of Stockholders for May 8, 2025, with proposals due by February 17, 2025. IN8bio continues to advance its clinical programs and maintain its Nasdaq listing requirements while navigating these recent developments.
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Written By: Investing.com
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