INmune Bio, Inc. (NASDAQ:INMB) Short Interest Down 14.5% in March

INmune Bio, Inc. (NASDAQ:INMB) saw a large decline in short interest in March. As of March 13th, there was short interest totaling 3,256,235 shares, a decline of 14.5% from the February 26th total of 3,806,985 shares. Based on an average daily trading volume, of 560,935 shares, the days-to-cover ratio is currently 5.8 days. Currently, 15.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On INmune Bio

A number of hedge funds have recently bought and sold shares of INMB. XTX Topco Ltd grew its position in INmune Bio by 240.9% in the second quarter. XTX Topco Ltd now owns 125,847 shares of the company’s stock worth $291,000 after acquiring an additional 88,928 shares in the last quarter. Westside Investment Management Inc. lifted its stake in shares of INmune Bio by 384.0% in the 3rd quarter. Westside Investment Management Inc. now owns 103,450 shares of the company’s stock valued at $214,000 after purchasing an additional 82,075 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of INmune Bio by 1,042.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 73,097 shares of the company’s stock worth $169,000 after purchasing an additional 66,700 shares during the period. State Street Corp increased its position in shares of INmune Bio by 22.3% during the 4th quarter. State Street Corp now owns 347,259 shares of the company’s stock valued at $542,000 after purchasing an additional 63,426 shares during the last quarter. Finally, Jain Global LLC purchased a new stake in INmune Bio during the 4th quarter valued at $66,000. Hedge funds and other institutional investors own 12.72% of the company’s stock.

Analyst Upgrades and Downgrades

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

INmune Bio Trading Down 0.4%

Shares of NASDAQ:INMB traded down $0.01 during mid-day trading on Tuesday, reaching $1.14. The stock had a trading volume of 326,439 shares, compared to its average volume of 431,691. The company has a market cap of $30.17 million, a P/E ratio of -0.54 and a beta of 0.77. INmune Bio has a 1 year low of $1.09 and a 1 year high of $11.64. The business’s 50 day moving average price is $1.40 and its 200 day moving average price is $1.65.

INmune Bio (NASDAQ:INMB) last released its quarterly earnings results on Monday, March 30th. The company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.07. Analysts predict that INmune Bio will post -2.24 earnings per share for the current fiscal year.

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.