Brokerages Set INmune Bio, Inc. (NASDAQ:INMB) Target Price at $8.00

INmune Bio, Inc. (NASDAQ:INMB) has received a consensus rating of “Reduce” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $8.00.

Separately, Wall Street Zen downgraded INmune Bio from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th.

INmune Bio Trading Down 2.0%

NASDAQ INMB opened at $1.44 on Wednesday. The firm’s fifty day simple moving average is $1.68 and its two-hundred day simple moving average is $1.88. INmune Bio has a 12-month low of $1.38 and a 12-month high of $11.64. The firm has a market capitalization of $38.28 million, a P/E ratio of -0.68 and a beta of 0.72.

Hedge Funds Weigh In On INmune Bio

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in INmune Bio by 44.8% in the 1st quarter. Royal Bank of Canada now owns 29,863 shares of the company’s stock worth $233,000 after purchasing an additional 9,236 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of INmune Bio in the first quarter worth $142,000. Rhumbline Advisers lifted its stake in shares of INmune Bio by 14.4% during the first 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. Focus Partners Advisor Solutions LLC grew its holdings in shares of INmune Bio by 321.2% during the second quarter. Focus Partners Advisor Solutions LLC now owns 48,813 shares of the company’s stock valued at $113,000 after buying an additional 37,224 shares during the last quarter. Finally, Modera Wealth Management LLC purchased a new stake in shares of INmune Bio during the second quarter valued at $36,000. Institutional investors and hedge funds 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.