Why Is IN8bio (INAB) Stock Up 9% Today?

  • IN8bio (INAB) stock is rising alongside heavy trading on Wednesday.
  • This continues recent volatility for shares of the company.
  • That includes rallies and dips throughout the week.
INAB Stock - Why Is IN8bio (INAB) Stock Up 9% Today?

Source: Gorodenkoff / Shutterstock.com

IN8bio (NASDAQ:INAB) stock is rising higher on Wednesday as the company’s shares continue their wild swings this week.

The strong movement for INAB stock started on Monday when shares experienced a 183% rally during normal trading hours. That came alongside heavy trading of INAB but didn’t include any company-specific news.

The company did get an update from the U.S. Food and Drug Administration (FDA) on Tuesday. This covered two of the company’s drugs being given orphan drug designations. That opens IN8bio up to certain benefits.

However, shares of INAB stock were already losing ground on Tuesday following Monday’s rally. As such, the shares didn’t gain yesterday despite there being positive news catalysts for a rally.

INAB Stock Movement Today

That brings us to today’s movement of INAB stock. There are no new announcements from the company today but shares of INAB are seeing heavy trading. Some 8 million shares are on the move as of this writing. For comparison, the company’s daily average trading volume is closer to 3.1 million shares.

One thing investors will keep in mind is INAB’s penny stock status. That means it’s more volatile, especially during pre-market trading. The company’s stock is up 9.4% during pre-market trading on Wednesday.

Investors seeking more of the most recent stock market news will want to keep reading!

We’ve got all of the hottest stock market news for Wednesday morning. Among that is what has Clearmind Medicine (NASDAQ:CMND) stock up, the biggest pre-market stock movers this morning and more. You can find all of that at the following links!

More Wednesday Stock Market News

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/04/why-is-in8bio-inab-stock-up-9-today/.

©2024 InvestorPlace Media, LLC