INmune Bio (NASDAQ:INMB) Shares Down 1.3% – What’s Next?

INmune Bio, Inc. (NASDAQ:INMB)’s stock price dropped 1.3% on Monday . The stock traded as low as $2.21 and last traded at $2.30. 294,749 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 390,631 shares. The stock had previously closed at $2.33.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INMB. Wall Street Zen upgraded shares of INmune Bio from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings upgraded shares of INmune Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

INmune Bio Stock Down 1.3%

The company has a market cap of $63.82 million, a price-to-earnings ratio of -3.43 and a beta of 0.97. The business has a fifty day simple moving average of $1.92 and a 200 day simple moving average of $1.55.

INmune Bio (NASDAQ:INMB) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.16.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in INmune Bio by 44.8% in the first quarter. Royal Bank of Canada now owns 29,863 shares of the company’s stock valued at $233,000 after buying an additional 9,236 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of INmune Bio during the 1st quarter worth approximately $142,000. Rhumbline Advisers boosted its stake in shares of INmune Bio by 14.4% during the 1st quarter. Rhumbline Advisers now owns 19,153 shares of the company’s stock worth $150,000 after acquiring an additional 2,409 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of INmune Bio by 6.9% in the 2nd quarter. Geode Capital Management LLC now owns 389,931 shares of the company’s stock worth $901,000 after acquiring an additional 25,069 shares during the period. Finally, Intech Investment Management LLC acquired a new stake in shares of INmune Bio in the 2nd quarter worth approximately $26,000. 12.72% of the stock is currently owned by institutional investors and hedge funds.

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.