Instil Bio initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Mitchell Kapoor initiated coverage of Instil Bio with a Buy rating and $2 price target. Instil is a biotechnology company focused on the development and commercialization of engineered tumor-infiltrating lymphocyte therapies, the analyst tells investors in a research note. The analyst expects positive data from the company’s next-generation TIL therapy, ITIL-306, in 2024. It views ITIL-306 as “novel and de-risked.”