INmune Bio (NASDAQ:INMB) Downgraded by Wall Street Zen to “Sell”

INmune Bio (NASDAQ:INMB) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

INmune Bio Stock Up 6.3%

INmune Bio stock opened at $1.51 on Friday. INmune Bio has a twelve month low of $1.38 and a twelve month high of $11.64. The company has a 50 day moving average of $1.70 and a 200-day moving average of $1.92. The stock has a market capitalization of $40.14 million, a PE ratio of -0.71 and a beta of 0.72.

Hedge Funds Weigh In On INmune Bio

A number of large investors have recently bought and sold shares of INMB. Rhumbline Advisers raised its holdings in shares of INmune Bio by 14.4% in the first quarter. Rhumbline Advisers now owns 19,153 shares of the company’s stock valued at $150,000 after purchasing an additional 2,409 shares during the last quarter. Royal Bank of Canada grew its position 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 purchasing an additional 9,236 shares in the last quarter. Intech Investment Management LLC acquired a new stake in INmune Bio in the 2nd quarter valued at $26,000. Cary Street Partners Financial LLC bought a new stake in INmune Bio during the 3rd quarter worth about $29,000. Finally, Independent Advisor Alliance acquired a new position in shares of INmune Bio during the 3rd quarter worth about $30,000. Institutional investors and hedge funds 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.