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

INmune Bio, Inc. (NASDAQ:INMB) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 5,510,000 shares, an increase of 9.5% from the January 15th total of 5,030,000 shares. Based on an average daily trading volume, of 330,500 shares, the short-interest ratio is currently 16.7 days.

Institutional Investors Weigh In On INmune Bio

A number of large investors have recently modified their holdings of INMB. Raymond James Financial Inc. bought a new stake in shares of INmune Bio during the 4th quarter valued at approximately $2,221,000. Praetorian PR LLC increased its position in INmune Bio by 61.0% in the 3rd quarter. Praetorian PR LLC now owns 780,800 shares of the company’s stock valued at $4,209,000 after acquiring an additional 295,800 shares during the period. Dauntless Investment Group LLC bought a new position in shares of INmune Bio during the fourth quarter valued at $896,000. Millennium Management LLC lifted its holdings in shares of INmune Bio by 43.9% during the fourth quarter. Millennium Management LLC now owns 291,327 shares of the company’s stock worth $1,360,000 after purchasing an additional 88,823 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of INmune Bio by 73.3% in the fourth quarter. Renaissance Technologies LLC now owns 185,800 shares of the company’s stock worth $868,000 after purchasing an additional 78,600 shares during the last quarter. Institutional investors and hedge funds own 12.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. RODMAN&RENSHAW raised shares of INmune Bio to a “strong-buy” rating in a report on Tuesday, January 28th. Alliance Global Partners assumed coverage on INmune Bio in a research note on Monday, October 21st. They set a “buy” rating and a $20.00 target price on the stock. Maxim Group boosted their price target on INmune Bio from $22.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday. Scotiabank upped their price objective on INmune Bio from $22.00 to $23.00 and gave the company a “sector outperform” rating in a report on Tuesday, February 11th. Finally, Rodman & Renshaw assumed coverage on INmune Bio in a report on Tuesday, January 28th. They set a “buy” rating and a $23.00 target price for the company. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $22.80.

INmune Bio Price Performance

NASDAQ:INMB traded down $0.12 during mid-day trading on Monday, reaching $9.18. The stock had a trading volume of 311,175 shares, compared to its average volume of 514,959. INmune Bio has a 12 month low of $4.32 and a 12 month high of $14.49. The stock has a market capitalization of $203.52 million, a PE ratio of -4.21 and a beta of 1.87. The stock has a 50-day simple moving average of $6.69 and a two-hundred day simple moving average of $6.11.

About INmune Bio

INmune Bio, Inc, a clinical-stage immunology company, focuses on developing drugs to reprogram the patients innate immune system to treat disease in the United States. It intends to develop and commercialize product candidates to treat hematologic malignancies, solid tumors, and chronic inflammation.