INmune Bio Inc (NASDAQ:INMB) Sees Large Drop in Short Interest

INmune Bio Inc (NASDAQ:INMB) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totalling 3,100 shares, a drop of 74.6% from the February 27th total of 12,200 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 98,500 shares, the days-to-cover ratio is presently 0.0 days.

INmune Bio stock traded up $0.07 during trading on Thursday, reaching $2.72. The stock had a trading volume of 37,200 shares, compared to its average volume of 33,722. INmune Bio has a 52-week low of $2.20 and a 52-week high of $11.50. The business has a 50 day moving average price of $4.15 and a 200 day moving average price of $4.91. The company has a quick ratio of 11.09, a current ratio of 11.09 and a debt-to-equity ratio of 0.01. The stock has a market cap of $31.61 million and a PE ratio of -3.63.

INmune Bio (NASDAQ:INMB) last issued its quarterly earnings results on Wednesday, March 11th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.03. On average, equities analysts predict that INmune Bio will post -0.9 EPS for the current fiscal year.

A number of research analysts recently issued reports on the stock. ValuEngine upgraded shares of INmune Bio from a “hold” rating to a “buy” rating in a research note on Tuesday, February 4th. Roth Capital assumed coverage on shares of INmune Bio in a research note on Thursday, December 19th. They issued a “buy” rating and a $13.00 price target for the company. HC Wainwright decreased their price target on shares of INmune Bio from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, March 12th. Finally, Maxim Group reiterated a “buy” rating and issued a $13.00 price target on shares of INmune Bio in a research note on Friday, March 13th.

In other news, major shareholder Linda F. Powers sold 220,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $4.60, for a total value of $1,012,000.00. Following the completion of the transaction, the insider now owns 210,000 shares of the company’s stock, valued at $966,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 67.67% of the company’s stock.

About INmune Bio

INmune Bio Inc, a clinical-stage immunotherapy company, focuses on engineering and harnessing the innate immune system to treat the patient's cancer. The company intends to develop and commercialize product candidates to treat diseases comprising hematologic malignancies and solid tumors. Its development programs include INKmune, which focuses on treating women with relapse refractory ovarian carcinoma; and INB03 that treats patients with advanced cancers with elevated biomarkers of inflammation, including elevated levels of myeloid derived suppressor cells in their blood.

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