Scotiabank Forecasts Strong Price Appreciation for INmune Bio (NASDAQ:INMB) Stock

INmune Bio (NASDAQ:INMB) had its price objective boosted by equities researchers at Scotiabank from $22.00 to $23.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 161.96% from the stock’s current price.

Several other research firms have also recently commented on INMB. Alliance Global Partners began coverage on INmune Bio in a report on Monday, October 21st. They issued a “buy” rating and a $20.00 price target for the company. RODMAN&RENSHAW raised INmune Bio to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Rodman & Renshaw began coverage on shares of INmune Bio in a report on Tuesday, January 28th. They issued a “buy” rating and a $23.00 price target on the stock. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $21.00.

INmune Bio Price Performance

NASDAQ:INMB traded down $0.34 during midday trading on Tuesday, reaching $8.78. The stock had a trading volume of 48,763 shares, compared to its average volume of 479,630. The stock has a market capitalization of $194.65 million, a P/E ratio of -4.03 and a beta of 1.87. INmune Bio has a 1-year low of $4.32 and a 1-year high of $14.74. The firm’s fifty day simple moving average is $6.22 and its 200-day simple moving average is $6.08.

Institutional Trading of INmune Bio

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Praetorian PR LLC lifted its position in shares of INmune Bio by 61.0% in the third quarter. Praetorian PR LLC now owns 780,800 shares of the company’s stock worth $4,209,000 after purchasing an additional 295,800 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in INmune Bio in the 4th quarter valued at $2,221,000. Geode Capital Management LLC lifted its position in INmune Bio by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 344,466 shares of the company’s stock worth $1,857,000 after buying an additional 21,262 shares in the last quarter. State Street Corp boosted its stake in shares of INmune Bio by 35.1% during the 3rd quarter. State Street Corp now owns 226,428 shares of the company’s stock worth $1,220,000 after buying an additional 58,838 shares during the last quarter. Finally, Westside Investment Management Inc. grew its holdings in shares of INmune Bio by 26.2% in the 4th quarter. Westside Investment Management Inc. now owns 89,975 shares of the company’s stock valued at $420,000 after acquiring an additional 18,660 shares in the last quarter. 12.72% of the stock is owned by institutional investors.

INmune Bio Company Profile

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.