INmune Bio, Inc. (NASDAQ:INMB) Sees Significant Increase in Short Interest
by Kim Johansen · The Markets DailyINmune Bio, Inc. (NASDAQ:INMB – Get Free Report) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 3,896,241 shares, a growth of 20.2% from the December 31st total of 3,241,827 shares. Based on an average daily volume of 342,062 shares, the short-interest ratio is currently 11.4 days. Approximately 18.6% of the company’s shares are short sold. Approximately 18.6% of the company’s shares are short sold. Based on an average daily volume of 342,062 shares, the short-interest ratio is currently 11.4 days.
INmune Bio Price Performance
INmune Bio stock traded down $0.03 during mid-day trading on Tuesday, reaching $1.55. 281,860 shares of the company traded hands, compared to its average volume of 316,814. INmune Bio has a 52-week low of $1.38 and a 52-week high of $11.64. The firm has a market capitalization of $41.20 million, a price-to-earnings ratio of -0.73 and a beta of 0.72. The firm’s 50 day moving average price is $1.71 and its 200 day moving average price is $1.94.
Institutional Trading of INmune Bio
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada boosted its position in INmune Bio by 44.8% during the 1st 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 in the last quarter. Jane Street Group LLC purchased a new position in shares of INmune Bio in the 1st quarter valued at approximately $142,000. Rhumbline Advisers boosted its position in shares of INmune Bio by 14.4% during the first quarter. Rhumbline Advisers now owns 19,153 shares of the company’s stock valued at $150,000 after purchasing an additional 2,409 shares in the last quarter. PFG Investments LLC purchased a new stake in INmune Bio in the second quarter worth $27,000. Finally, Focus Partners Advisor Solutions LLC raised its holdings in INmune Bio by 321.2% in the second quarter. Focus Partners Advisor Solutions LLC now owns 48,813 shares of the company’s stock worth $113,000 after purchasing an additional 37,224 shares in the last quarter. 12.72% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have weighed in on INMB. Wall Street Zen raised shares of INmune Bio from a “sell” rating to a “hold” rating in a research report on Sunday, December 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of INmune Bio in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, INmune Bio has a consensus rating of “Reduce” and a consensus target price of $15.50.
Get Our Latest Stock Analysis on INmune Bio
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.