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

INmune Bio, Inc. (NASDAQ:INMB)’s stock price traded down 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 trading, a decline of 53% from the average session volume of 302,628 shares. The stock had previously closed at $1.43.

Analyst Ratings Changes

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

INmune Bio Trading Down 3.5%

The business has a fifty day simple moving average of $1.30 and a two-hundred day simple moving average of $1.56. The stock has a market cap of $36.68 million, a PE ratio of -0.73 and a beta of 0.88.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd grew its holdings in shares of INmune Bio by 41.3% during the 4th quarter. XTX Topco Ltd now owns 68,865 shares of the company’s stock worth $107,000 after acquiring an additional 20,121 shares during the period. Jain Global LLC purchased a new position in shares of INmune Bio during the 4th quarter worth approximately $66,000. Charles Schwab Investment Management Inc. grew its holdings in shares of INmune Bio by 20.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,252 shares of the company’s stock worth $78,000 after acquiring an additional 8,427 shares during the period. Wells Fargo & Company MN grew its holdings in shares of INmune Bio by 79.0% during the 4th quarter. Wells Fargo & Company MN now owns 24,857 shares of the company’s stock worth $39,000 after acquiring an additional 10,970 shares during the period. Finally, Bank of Montreal Can purchased a new position in shares of INmune Bio during the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 12.72% of the company’s stock.

About INmune Bio

INmune Bio, Inc is a clinical-stage 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.