INmune Bio (NASDAQ:INMB) Trading Down 3.5% – Here’s What Happened

INmune Bio, Inc. (NASDAQ:INMB)’s stock price fell 3.5% during mid-day trading on Thursday . The company traded as low as $1.3501 and last traded at $1.38. 142,302 shares were traded during mid-day trading, a decline of 53% from the average session volume of 302,628 shares. The stock had previously closed at $1.43.

Analysts Set New Price Targets

A number of research firms have issued reports on INMB. Wall Street Zen raised INmune Bio from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Lucid Cap Mkts upgraded INmune Bio from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $8.00.

INmune Bio Price Performance

The company has a 50 day simple moving average of $1.30 and a 200-day simple moving average of $1.56. The stock has a market cap of $36.68 million, a P/E ratio of -0.73 and a beta of 0.88.

INmune Bio (NASDAQ:INMB) last issued its quarterly earnings results on Monday, March 30th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.09.

Institutional Investors Weigh In On INmune Bio

Several hedge funds have recently added to or reduced their stakes in INMB. Rhumbline Advisers increased its holdings in INmune Bio by 14.4% during the 1st quarter. Rhumbline Advisers now owns 19,153 shares of the company’s stock valued at $150,000 after purchasing an additional 2,409 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in INmune Bio by 20.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,252 shares of the company’s stock valued at $78,000 after purchasing an additional 8,427 shares during the period. Royal Bank of Canada increased its holdings in INmune Bio by 44.8% during the 1st quarter. Royal Bank of Canada now owns 29,863 shares of the company’s stock valued at $233,000 after purchasing an additional 9,236 shares during the period. Wells Fargo & Company MN increased its holdings in INmune Bio by 79.0% during the 4th quarter. Wells Fargo & Company MN now owns 24,857 shares of the company’s stock valued at $39,000 after purchasing an additional 10,970 shares during the period. Finally, Intech Investment Management LLC purchased a new position in INmune Bio during the 2nd quarter valued at about $26,000. Institutional investors own 12.72% of the company’s stock.

INmune Bio Company Profile

INmune Bio, Inc is a clinical-stage immunology company based in San Diego, California, focused on harnessing the innate immune system to combat a range of serious diseases. The company’s research and development efforts concentrate on modulating cellular pathways to restore and enhance the body’s natural defenses, particularly in oncology and neurodegenerative conditions.

The company’s lead therapeutic candidate, XPro1595 (also referred to as INB03), is a proprietary selective inhibitor of soluble tumor necrosis factor (TNF) designed to reduce chronic inflammation without impairing membrane-bound TNF functions.