INmune Bio, Inc. (NASDAQ:INMB) Sees Large Decrease in Short Interest

INmune Bio, Inc. (NASDAQ:INMB) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totalling 2,680,000 shares, a drop of 15.2% from the September 15th total of 3,160,000 shares. Based on an average daily trading volume, of 218,600 shares, the days-to-cover ratio is presently 12.3 days.

Insider Buying and Selling

In related news, CEO Raymond Joseph Tesi bought 15,380 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was bought at an average cost of $6.38 per share, for a total transaction of $98,124.40. Following the acquisition, the chief executive officer now directly owns 1,554,106 shares in the company, valued at $9,915,196.28. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Raymond Joseph Tesi bought 15,380 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were bought at an average cost of $6.38 per share, for a total transaction of $98,124.40. Following the acquisition, the chief executive officer now directly owns 1,554,106 shares of the company’s stock, valued at $9,915,196.28. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David J. Moss purchased 7,690 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was purchased at an average cost of $6.38 per share, with a total value of $49,062.20. Following the purchase, the chief financial officer now owns 1,275,869 shares in the company, valued at approximately $8,140,044.22. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 33,070 shares of company stock worth $200,087. 35.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On INmune Bio

A number of hedge funds have recently added to or reduced their stakes in the business. Fermata Advisors LLC raised its position in INmune Bio by 8.5% in the 2nd quarter. Fermata Advisors LLC now owns 34,140 shares of the company’s stock valued at $301,000 after purchasing an additional 2,689 shares in the last quarter. CVI Holdings LLC acquired a new position in INmune Bio during the 2nd quarter worth approximately $5,260,000. Rhumbline Advisers acquired a new position in INmune Bio during the 2nd quarter worth approximately $121,000. Bank of New York Mellon Corp increased its position 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 purchasing an additional 32,511 shares during the last quarter. Finally, Marshall Wace LLP raised 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 purchasing an additional 89,091 shares in the last quarter. 12.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on INMB shares. Raymond James assumed coverage on INmune Bio in a research note on Friday, September 27th. They issued an “outperform” rating and a $18.00 price target on the stock. Scotiabank began coverage on shares of INmune Bio in a research report on Thursday, August 22nd. They issued a “sector outperform” rating and a $22.00 target price on the stock.

INmune Bio Stock Performance

Shares of INMB traded down $0.06 during midday trading on Monday, hitting $5.08. 128,168 shares of the stock were exchanged, compared to its average volume of 155,917. INmune Bio has a 52-week low of $4.81 and a 52-week high of $14.74. The stock has a fifty day simple moving average of $6.12 and a 200 day simple moving average of $8.31. The firm has a market cap of $100.49 million, a P/E ratio of -2.70 and a beta of 1.85.

INmune Bio (NASDAQ:INMB) last released its earnings results on Thursday, August 1st. The company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.13. INmune Bio had a negative return on equity of 103.56% and a negative net margin of 26,333.59%. As a group, equities research analysts forecast that INmune Bio will post -2.14 EPS for the current fiscal year.

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.