Lucid Cap Mkts Upgrades INmune Bio (NASDAQ:INMB) to “Strong-Buy”

INmune Bio (NASDAQ:INMB) was upgraded by equities researchers at Lucid Cap Mkts from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Separately, Wall Street Zen upgraded INmune Bio from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.00.

INmune Bio Stock Performance

NASDAQ INMB opened at $1.42 on Wednesday. INmune Bio has a 1 year low of $1.16 and a 1 year high of $11.64. The business’s fifty day moving average is $1.49 and its two-hundred day moving average is $1.72. The stock has a market capitalization of $37.75 million, a P/E ratio of -0.67 and a beta of 0.77.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in shares of INmune Bio by 44.8% during the first quarter. Royal Bank of Canada now owns 29,863 shares of the company’s stock valued at $233,000 after acquiring an additional 9,236 shares during the period. Jane Street Group LLC purchased a new position in INmune Bio during the 1st quarter worth approximately $142,000. Rhumbline Advisers raised its stake in INmune Bio by 14.4% during the 1st quarter. Rhumbline Advisers now owns 19,153 shares of the company’s stock valued at $150,000 after purchasing an additional 2,409 shares during the period. PNC Financial Services Group Inc. acquired a new stake in INmune Bio during the 2nd quarter valued at $87,000. Finally, Geode Capital Management LLC lifted its holdings in shares of INmune Bio by 6.9% in the second quarter. Geode Capital Management LLC now owns 389,931 shares of the company’s stock valued at $901,000 after purchasing an additional 25,069 shares in the last quarter. 12.72% of the stock is 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.