INmune Bio, Inc. (NASDAQ:INMB) Sees Significant Growth in Short Interest

INmune Bio, Inc. (NASDAQ:INMB) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 5,510,000 shares, a growth of 9.5% from the January 15th total of 5,030,000 shares. Based on an average trading volume of 330,500 shares, the days-to-cover ratio is currently 16.7 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Laird Norton Wetherby Trust Company LLC lifted its position in INmune Bio by 3.8% during the fourth quarter. Laird Norton Wetherby Trust Company LLC now owns 34,100 shares of the company’s stock valued at $159,000 after buying an additional 1,250 shares in the last quarter. Financial Advocates Investment Management lifted its position in INmune Bio by 17.4% during the third quarter. Financial Advocates Investment Management now owns 13,500 shares of the company’s stock valued at $73,000 after buying an additional 2,000 shares in the last quarter. Wells Fargo & Company MN lifted its position in INmune Bio by 51.0% during the fourth quarter. Wells Fargo & Company MN now owns 6,377 shares of the company’s stock valued at $30,000 after buying an additional 2,155 shares in the last quarter. Rhumbline Advisers lifted its position in INmune Bio by 16.9% during the fourth quarter. Rhumbline Advisers now owns 16,744 shares of the company’s stock valued at $78,000 after buying an additional 2,424 shares in the last quarter. Finally, Barclays PLC lifted its position in INmune Bio by 10.2% during the fourth quarter. Barclays PLC now owns 32,019 shares of the company’s stock valued at $150,000 after buying an additional 2,975 shares in the last quarter. 12.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INMB. Alliance Global Partners began coverage on shares of INmune Bio in a report on Monday, October 21st. They set a “buy” rating and a $20.00 target price for the company. Scotiabank raised their target price on shares of INmune Bio from $22.00 to $23.00 and gave the company a “sector outperform” rating in a report on Tuesday, February 11th. RODMAN&RENSHAW upgraded shares of INmune Bio to a “strong-buy” rating in a report on Tuesday, January 28th. Maxim Group raised their price target on shares of INmune Bio from $22.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Finally, Rodman & Renshaw began coverage on shares of INmune Bio in a research note on Tuesday, January 28th. They set a “buy” rating and a $23.00 price target on the stock. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $22.80.

INmune Bio Stock Performance

INMB opened at $9.18 on Tuesday. The company’s 50 day simple moving average is $6.69 and its 200 day simple moving average is $6.11. INmune Bio has a 1 year low of $4.32 and a 1 year high of $14.49. The stock has a market capitalization of $203.52 million, a PE ratio of -4.21 and a beta of 1.87.

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.