IN8bio price target lowered to $6 from $8 at H.C. Wainwright

H.C. Wainwright analyst Swayampakula Ramakanth lowered the firm’s price target on IN8bio (INAB) to $6 from $8 and keeps a Buy rating on the shares. IN8bio’s leading candidate INB-619 has shown potential in preclinical studies in depleting B cells and activating both types of gamma-delta T-cells while maintaining a safety advantage over conventional T-cell engagers, notes the analyst. The company plans to present preclinical data on INB-619 at medical meetings in Q2 and expects to seek partnerships for clinical development. The firm lowered its price target to $6 per share due to stock dilution from recent fundraising.