On Monday, Laidlaw began coverage of IN8bio Inc. (NASDAQ: INAB), assigning the stock a Buy rating and setting a 12-month price target of $7.50. IN8bio, an early to mid-clinical stage biotechnology company, is at the forefront of developing gamma-delta T cell-based cancer therapies. The firm's positive outlook on INAB is bolstered by what it sees as unique and competitive treatment approaches in comparison to peers in the biotech sector.
The company's innovative strategies in the realm of cancer therapy have been underpinned by encouraging initial clinical results from its two leading assets. This promising clinical performance has been a key factor in Laidlaw's decision to initiate coverage with a favorable rating and an optimistic price target.
IN8bio's focus on gamma-delta T cell therapies represents a novel approach within the oncology space, aiming to offer better outcomes for patients battling cancer. The company's research and development efforts in this area have drawn attention for their potential impact on cancer treatment modalities.
The Buy rating suggests that Laidlaw sees a positive trajectory for IN8bio's stock, anticipating growth and success based on the company's current clinical developments. The $7.50 price target reflects the firm's confidence in the value of INAB's shares over the next year.
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