INmune Bio (NASDAQ:INMB) Stock Price Target Lowered at Freedom Broker

INmune Bio (NASDAQ:INMB) had its price objective reduced by Freedom Broker from $4.00 to $2.50 in a research note released on Friday,Benzinga reports. Freedom Broker currently has a buy rating on the stock.

INMB has been the topic of a number of other reports. Wall Street Zen cut shares of INmune Bio from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. Weiss Ratings upgraded shares of INmune Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $2.50.

INmune Bio Price Performance

Shares of INmune Bio stock remained flat at $1.05 during trading hours on Friday. The stock had a trading volume of 476,498 shares, compared to its average volume of 275,200. The stock has a market capitalization of $32.51 million, a PE ratio of -1.75 and a beta of 0.97. INmune Bio has a 1 year low of $1.01 and a 1 year high of $2.60. The stock’s 50-day moving average is $1.76 and its two-hundred day moving average is $1.61.

INmune Bio (NASDAQ:INMB) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.02).

Institutional Investors Weigh In On INmune Bio

Several institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP purchased a new position in shares of INmune Bio in the third quarter valued at $176,000. Russell Investments Group Ltd. grew its stake in INmune Bio by 64.0% during the third quarter. Russell Investments Group Ltd. now owns 25,246 shares of the company’s stock valued at $49,000 after acquiring an additional 9,850 shares in the last quarter. Ieq Capital LLC purchased a new position in INmune Bio during the second quarter valued at approximately $134,000. BlackRock Inc. bought a new stake in INmune Bio during the 2nd quarter worth approximately $508,000. Finally, Bank of New York Mellon Corp bought a new stake in INmune Bio during the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 12.72% of the company’s stock.

About INmune Bio

INmune Bio, Inc. is a clinical-stage biotechnology company developing treatments that target the innate immune system. The company’s research focuses on using immune responses to address cancer and inflammatory conditions, including neuroinflammation. Its pipeline includes XPro1595, a selective inhibitor of soluble tumor necrosis factor being studied for conditions including Alzheimer’s disease, and INKmune, an investigational cell therapy designed to enhance natural killer cell activity against cancer.