INmune Bio (NASDAQ:INMB) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of INmune Bio (NASDAQ:INMB) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings upgraded shares of INmune Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

INmune Bio Trading Up 6.8%

NASDAQ:INMB opened at $1.73 on Friday. The company has a market cap of $45.98 million, a price-to-earnings ratio of -1.04 and a beta of 0.97. INmune Bio has a twelve month low of $1.09 and a twelve month high of $3.24. The stock has a fifty day simple moving average of $1.55 and a 200-day simple moving average of $1.46.

INmune Bio (NASDAQ:INMB) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.20) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04.

Institutional Investors Weigh In On INmune Bio

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its position in shares of INmune Bio by 44.8% during the 1st quarter. Royal Bank of Canada now owns 29,863 shares of the company’s stock worth $233,000 after buying an additional 9,236 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of INmune Bio in the first quarter valued at about $142,000. Rhumbline Advisers lifted its stake in INmune Bio by 14.4% in the first quarter. Rhumbline Advisers now owns 19,153 shares of the company’s stock worth $150,000 after acquiring an additional 2,409 shares during the period. Geode Capital Management LLC lifted its stake in INmune Bio by 6.9% in 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 during the period. Finally, Intech Investment Management LLC bought a new position in INmune Bio during the 2nd quarter worth about $26,000. 12.72% of the stock is currently owned by hedge funds and other institutional investors.

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.