INmune Bio (NASDAQ:INMB) Given New $8.00 Price Target at Maxim Group

INmune Bio (NASDAQ:INMB) had its target price decreased by Maxim Group from $30.00 to $8.00 in a research note released on Wednesday morning,Benzinga reports. Maxim Group currently has a buy rating on the stock.

INMB has been the subject of a number of other research reports. BTIG Research restated a “neutral” rating on shares of INmune Bio in a report on Tuesday. Scotiabank reiterated a “sector underperform” rating on shares of INmune Bio in a report on Tuesday. Finally, Raymond James Financial cut shares of INmune Bio from a “moderate buy” rating to a “hold” rating in a report on Monday, June 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.40.

INmune Bio Price Performance

Shares of INMB stock opened at $2.61 on Wednesday. The firm’s 50-day moving average is $6.88 and its two-hundred day moving average is $7.23. INmune Bio has a 12 month low of $1.89 and a 12 month high of $11.64. The company has a market capitalization of $61.43 million, a PE ratio of -1.35 and a beta of 1.34.

INmune Bio (NASDAQ:INMB) last issued its earnings results on Thursday, May 8th. The company reported ($0.43) EPS for the quarter, hitting analysts’ consensus estimates of ($0.43). The firm had revenue of $0.05 million for the quarter. Sell-side analysts forecast that INmune Bio will post -2.24 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its holdings in shares of INmune Bio by 14.4% in the 1st quarter. Rhumbline Advisers now owns 19,153 shares of the company’s stock valued at $150,000 after buying an additional 2,409 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of INmune Bio in the 1st quarter valued at $142,000. PharVision Advisers LLC acquired a new stake in INmune Bio during the 1st quarter worth $135,000. Focus Partners Advisor Solutions LLC acquired a new stake in INmune Bio during the 1st quarter worth $91,000. Finally, Royal Bank of Canada boosted its stake in 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 purchasing an additional 9,236 shares during the period. Institutional investors and hedge funds own 12.72% of the company’s stock.

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.