INmune Bio (NASDAQ:INMB) Receives New Coverage from Analysts at Raymond James

Raymond James assumed coverage on shares of INmune Bio (NASDAQ:INMB) in a research note published on Friday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $18.00 price objective on the stock.

Separately, Scotiabank initiated coverage on INmune Bio in a research note on Thursday, August 22nd. They set a sector outperform rating and a $22.00 price target on the stock.

INmune Bio Stock Up 3.3 %

INMB stock opened at $5.39 on Friday. The business has a 50 day moving average price of $6.73 and a 200 day moving average price of $8.75. The stock has a market cap of $106.62 million, a price-to-earnings ratio of -2.81 and a beta of 1.86. INmune Bio has a fifty-two week low of $4.81 and a fifty-two week high of $14.74.

INmune Bio (NASDAQ:INMB) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.13. INmune Bio had a negative net margin of 26,333.59% and a negative return on equity of 103.56%.

Insiders Place Their Bets

In other INmune Bio news, CEO Raymond Joseph Tesi bought 15,380 shares of INmune Bio stock in a transaction dated Thursday, September 12th. The stock was acquired at an average cost of $6.38 per share, with a total value of $98,124.40. Following the completion of the acquisition, the chief executive officer now owns 1,554,106 shares of the company’s stock, valued at $9,915,196.28. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Raymond Joseph Tesi bought 15,380 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $6.38 per share, with a total value of $98,124.40. Following the completion of the acquisition, the chief executive officer now owns 1,554,106 shares in the company, valued at approximately $9,915,196.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO David J. Moss purchased 7,690 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average cost of $6.38 per share, with a total value of $49,062.20. Following the completion of the acquisition, the chief financial officer now owns 1,275,869 shares of the company’s stock, valued at $8,140,044.22. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 33,070 shares of company stock valued at $200,087. Insiders own 35.20% of the company’s stock.

Institutional Trading of INmune Bio

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fermata Advisors LLC raised its holdings in INmune Bio by 8.5% during the second quarter. Fermata Advisors LLC now owns 34,140 shares of the company’s stock worth $301,000 after purchasing an additional 2,689 shares in the last quarter. CVI Holdings LLC purchased a new position in shares of INmune Bio during the 2nd quarter worth approximately $5,260,000. Bank of New York Mellon Corp lifted its holdings in shares of INmune Bio by 124.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 58,600 shares of the company’s stock valued at $517,000 after buying an additional 32,511 shares during the period. Marshall Wace LLP lifted its holdings in shares of INmune Bio by 332.1% in the 2nd quarter. Marshall Wace LLP now owns 115,916 shares of the company’s stock valued at $1,022,000 after buying an additional 89,091 shares during the period. Finally, Rhumbline Advisers purchased a new stake in shares of INmune Bio in the second quarter valued at approximately $121,000. Hedge funds and other institutional investors 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.