IN8bio Stock Is Soaring Today: What's Behind The Move Higher?

IN8bio Inc INAB shares are ripping higher Tuesday after a Form 4 filing with the SEC showed that Cavu Advisors has been buying shares of the clinical-stage biotech company. Positive analyst coverage from HC Wainwright & Co may also be adding to the move higher.

According to a recent regulatory filing, Cavu Advisors bought 51,214 shares of IN8bio over the last week at an average price of $2.02 per share.

HC Wainwright & Co. analyst Swayampakula Ramakanth initiated coverage on IN8bio with a Buy rating Tuesday and announced a price target of $14.

IN8bio focuses on developing innovative therapies for the treatment of cancers, including solid tumors, by employing allogeneic, autologous and genetically modified gamma-delta T cells.

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INAB Price Action: INAB has a 52-week high of $4.97 and a 52-week low of $1.75.

The stock was up 35.9% at $2.69 at press time, according to Benzinga Pro.

Photo: Konstantin Kolosov from Pixabay.