INmune Bio (NASDAQ:INMB) Trading Down 2.4% – What’s Next?

INmune Bio, Inc. (NASDAQ:INMB)’s share price was down 2.4% during trading on Friday . The stock traded as low as $1.24 and last traded at $1.24. Approximately 150,547 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 322,965 shares. The stock had previously closed at $1.27.

Analyst Ratings Changes

Several equities analysts recently commented on INMB shares. Lucid Cap Mkts upgraded INmune Bio from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 11th. Wall Street Zen downgraded INmune Bio from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.00.

INmune Bio Price Performance

The stock has a fifty day moving average price of $1.37 and a 200 day moving average price of $1.48. The stock has a market capitalization of $32.96 million, a P/E ratio of -0.74 and a beta of 1.03.

INmune Bio (NASDAQ:INMB) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04.

Hedge Funds Weigh In On INmune Bio

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of INmune Bio by 3.4% in the third quarter. Vanguard Group Inc. now owns 876,292 shares of the company’s stock worth $1,814,000 after acquiring an additional 28,541 shares during the period. Geode Capital Management LLC raised its position in shares of INmune Bio by 6.9% in the second quarter. Geode Capital Management LLC now owns 389,931 shares of the company’s stock worth $901,000 after buying an additional 25,069 shares in the last quarter. State Street Corp raised its position in shares of INmune Bio by 22.3% in the fourth quarter. State Street Corp now owns 347,259 shares of the company’s stock worth $542,000 after buying an additional 63,426 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of INmune Bio by 1,042.7% in the second quarter. JPMorgan Chase & Co. now owns 73,097 shares of the company’s stock worth $169,000 after buying an additional 66,700 shares in the last quarter. Finally, XTX Topco Ltd raised its position in shares of INmune Bio by 41.3% in the fourth quarter. XTX Topco Ltd now owns 68,865 shares of the company’s stock worth $107,000 after buying an additional 20,121 shares in the last quarter. 12.72% of the stock is owned by institutional investors.

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.