Instil Bio Stock Soars After Jefferies Upgrade On 'Early Mover' Cancer Drug Candidate: Retail Jubilant

Instil Bio’s stock surged over 25% on Tuesday to levels last seen in early December after Jefferies upgraded the shares to ‘Buy’ from ‘Hold,’ with a new price target of $52 — more than double its current level. 

The upgrade reflects Jefferies’ confidence in the potential of Instil’s lead asset, SYN-2510, a novel PD-L1xVEGF bispecific antibody targeting multiple solid tumor cancers.

Jefferies highlighted SYN-2510 as an “early mover” in the competitive cancer drug space, with significant upside expected from its planned clinical trials. 

A U.S. Phase 1b/2 study in non-small cell lung cancer (NSCLC) is scheduled to begin in the second half of 2025, focusing on driver gene mutation-negative non-squamous and squamous NSCLC patients. 

This trial will explore SYN-2510 in combination with chemotherapy, a promising strategy in frontline treatment settings.

SYN-2510 is part of a global registrational strategy with China’s ImmuneOnco Biopharmaceuticals. 

In late 2024, ImmuneOnco started a Phase 1b/2 chemo combination study in China for frontline NSCLC. The collaboration aims to generate clinical proof-of-concept data in multiple solid tumors, with updates anticipated in early 2025. 

If successful, both companies may initiate joint randomized Phase 3 chemotherapy combination trials for NSCLC and triple-negative breast cancer (TNBC) in 2025.

Retail investors on Stocktwits reacted positively, pushing sentiment to ‘extremely bullish’ and boosting its message volume. 

Jefferies also noted that the stock is trading at cash value, which, combined with SYN-2510’s potential, suggests substantial growth opportunities.

Instil reported $122.9 million in cash reserves as of September 2024, saying it was sufficient to fund its operations through at least 2026. 

The stock has climbed over 240% in the past year, driven by optimism around its innovative cancer therapies and impending trials, making it a standout player in the small-cap oncology space.

For updates and corrections, email newsroom[at]stocktwits[dot]com.