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Investing.com - Mizuho lowered its price target on IN8bio Inc. (NASDAQ:INAB) to $4.00 from $6.00 on Monday, while maintaining an Outperform rating on the clinical-stage biotechnology company. The stock, currently trading at $2.1 with a market capitalization of $9.53 million, has seen a significant decline of about 73% year-to-date.
The price target adjustment reflects concerns about IN8bio’s need for additional financing to advance its INB-100 program, which is being developed for acute myeloid leukemia (AML) patients following haploidentical hematopoietic stem cell transplantation (HSCT).
Mizuho noted that IN8bio had approximately $13 million in cash at the end of the second quarter of 2025, which the firm believes is insufficient to fund a registrational study for INB-100 and bring the asset through FDA approval and launch.
The research firm cited the challenging funding environment for the cell therapy sector as a key factor increasing the risk to its launch timeline and sales forecast for the INB-100 program.
The new price target accounts for the 1-for-30 reverse stock split that IN8bio implemented in June 2025, with Mizuho expressing continued belief in the potential of the INB-100 program to "significantly prolong relapse-free survival" based on early Phase 1 data.
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