INmune Bio, Inc. (NASDAQ:INMB) Short Interest Update

INmune Bio, Inc. (NASDAQ:INMB) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 3,256,235 shares, a drop of 14.5% from the February 26th total of 3,806,985 shares. Based on an average trading volume of 560,935 shares, the days-to-cover ratio is currently 5.8 days. Currently, 15.5% of the company’s shares are sold short.

Wall Street Analyst Weigh In

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

Institutional Trading of INmune Bio

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of INmune Bio by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 876,292 shares of the company’s stock worth $1,814,000 after acquiring an additional 28,541 shares in the last quarter. Geode Capital Management LLC boosted its stake in INmune Bio by 6.9% during the second quarter. Geode Capital Management LLC now owns 389,931 shares of the company’s stock worth $901,000 after acquiring an additional 25,069 shares in the last quarter. State Street Corp grew its holdings in INmune Bio by 22.3% in the fourth quarter. State Street Corp now owns 347,259 shares of the company’s stock worth $542,000 after purchasing an additional 63,426 shares during the period. XTX Topco Ltd grew its holdings in INmune Bio by 240.9% in the second quarter. XTX Topco Ltd now owns 125,847 shares of the company’s stock worth $291,000 after purchasing an additional 88,928 shares during the period. Finally, Westside Investment Management Inc. increased its stake in shares of INmune Bio by 384.0% during the third quarter. Westside Investment Management Inc. now owns 103,450 shares of the company’s stock valued at $214,000 after purchasing an additional 82,075 shares in the last quarter. 12.72% of the stock is owned by hedge funds and other institutional investors.

INmune Bio Stock Performance

Shares of NASDAQ:INMB opened at $1.23 on Thursday. The firm has a market capitalization of $32.70 million, a P/E ratio of -0.65 and a beta of 0.77. The stock has a 50 day moving average price of $1.39 and a 200-day moving average price of $1.64. INmune Bio has a 52-week low of $1.09 and a 52-week high of $11.64.

INmune Bio (NASDAQ:INMB) last released its quarterly earnings results on Monday, March 30th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.09. On average, equities analysts forecast that INmune Bio will post -2.24 EPS for the current fiscal year.

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.