INmune Bio, Inc. (NASDAQ:INMB) Given Average Recommendation of “Reduce” by Analysts

Shares of INmune Bio, Inc. (NASDAQ:INMB) have been assigned a consensus recommendation of “Reduce” from the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $8.00.

Separately, Wall Street Zen upgraded shares of INmune Bio from a “sell” rating to a “hold” rating in a report on Saturday, February 28th.

INmune Bio Stock Performance

INmune Bio stock opened at $1.33 on Friday. The stock has a market capitalization of $35.35 million, a price-to-earnings ratio of -0.63 and a beta of 0.77. INmune Bio has a 52-week low of $1.21 and a 52-week high of $11.64. The stock’s 50 day moving average price is $1.51 and its two-hundred day moving average price is $1.74.

Hedge Funds Weigh In On INmune Bio

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in shares of INmune Bio by 44.8% in the 1st 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 during the period. Jane Street Group LLC acquired a new position in INmune Bio during the 1st quarter worth approximately $142,000. Rhumbline Advisers raised its stake in 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 buying an additional 2,409 shares during the period. Modera Wealth Management LLC bought a new position in INmune Bio in the second quarter worth approximately $36,000. Finally, PNC Financial Services Group Inc. bought a new position in INmune Bio in the second quarter worth approximately $87,000. Institutional investors own 12.72% of the company’s stock.

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.