Maxim Group Issues Pessimistic Forecast for INmune Bio (NASDAQ:INMB) Stock Price

INmune Bio (NASDAQ:INMB - Get Free Report) had its target price lowered by Maxim Group from $30.00 to $8.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Maxim Group's price objective suggests a potential upside of 207.10% from the stock's current price.

Several other equities research analysts also recently weighed in on the company. Raymond James Financial downgraded INmune Bio from a "moderate buy" rating to a "hold" rating in a research report on Monday. BTIG Research reaffirmed a "neutral" rating on shares of INmune Bio in a report on Tuesday. Finally, Scotiabank reissued a "sector underperform" rating on shares of INmune Bio in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $18.40.

INmune Bio Stock Performance

INMB stock traded up $0.25 during trading on Wednesday, reaching $2.61. The company had a trading volume of 4,686,445 shares, compared to its average volume of 775,639. The company has a market cap of $61.44 million, a price-to-earnings ratio of -1.35 and a beta of 1.34. The firm has a 50-day simple moving average of $7.09 and a 200-day simple moving average of $7.27. INmune Bio has a twelve month low of $1.89 and a twelve month high of $11.64.

INmune Bio (NASDAQ:INMB - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.43). The business had revenue of $0.05 million for the quarter. Sell-side analysts expect that INmune Bio will post -2.24 earnings per share for the current year.

Hedge Funds Weigh In On INmune Bio

Several institutional investors and hedge funds have recently modified their holdings of INMB. Wells Fargo & Company MN raised its stake in shares of INmune Bio by 51.0% during the 4th quarter. Wells Fargo & Company MN now owns 6,377 shares of the company's stock worth $30,000 after buying an additional 2,155 shares during the period. Beacon Pointe Advisors LLC acquired a new position in INmune Bio during the fourth quarter worth $48,000. Quarry LP purchased a new position in INmune Bio during the first quarter valued at $48,000. JPMorgan Chase & Co. grew its position in shares of INmune Bio by 93.0% in the fourth quarter. JPMorgan Chase & Co. now owns 11,335 shares of the company's stock valued at $53,000 after purchasing an additional 5,461 shares during the period. Finally, Two Sigma Advisers LP acquired a new stake in shares of INmune Bio in the fourth quarter valued at about $59,000. Hedge funds and other institutional investors own 12.72% of the company's stock.

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.