INmune Bio, Inc. (NASDAQ:INMB) Sees Large Growth in Short Interest

INmune Bio, Inc. (NASDAQ:INMB) was the recipient of a large increase in short interest in March. As of March 31st, there was short interest totalling 1,530,000 shares, an increase of 6.3% from the March 15th total of 1,440,000 shares. Based on an average daily trading volume, of 86,500 shares, the days-to-cover ratio is currently 17.7 days. Currently, 13.0% of the shares of the stock are short sold.

INmune Bio Stock Performance

INmune Bio stock opened at $9.58 on Tuesday. INmune Bio has a fifty-two week low of $6.50 and a fifty-two week high of $14.74. The stock has a fifty day moving average of $11.89 and a two-hundred day moving average of $10.26. The company has a market capitalization of $172.73 million, a price-to-earnings ratio of -5.74 and a beta of 1.99.

Institutional Trading of INmune Bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC purchased a new position in INmune Bio in the 3rd quarter valued at about $25,000. Bank of America Corp DE raised its position in shares of INmune Bio by 152.1% in the first quarter. Bank of America Corp DE now owns 4,717 shares of the company’s stock valued at $30,000 after buying an additional 2,846 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in shares of INmune Bio by 52.9% during the fourth quarter. Advisor Group Holdings Inc. now owns 9,250 shares of the company’s stock valued at $59,000 after buying an additional 3,200 shares during the period. LPL Financial LLC acquired a new stake in INmune Bio during the third quarter worth approximately $68,000. Finally, Squarepoint Ops LLC purchased a new stake in INmune Bio in the 1st quarter worth approximately $84,000. Hedge funds and other institutional investors own 12.72% of the company’s stock.

About INmune Bio

INmune Bio, Inc, a clinical-stage immunology company, focuses on reprogramming the patient's innate immune system to treat cancer and neurodegenerative diseases. It intends to develop and commercialize product candidates to treat hematologic malignancies, solid tumors, and chronic inflammation. The company's development programs include INKmune, which focuses on treating women with relapse refractory ovarian carcinoma solid tumor and patients with high-risk myelodysplastic syndrome; INB03 to treat patients with cancers that express MUC4, a mucinous polyglucan on the surface of some epithelial cancer cells that appears to predict resistant to immunotherapy, including women with MUC4 expressing HER2+ breast cancer and other MUC4 resistant cancers; and XPro1595 for the treatment of Alzheimer's disease and Treatment Resistant Depression.