Maxim Group reissued their buy rating on shares of INmune Bio (NASDAQ:INMB) in a research note published on Wednesday morning, AnalystRatings.com reports. They currently have a $13.00 target price on the stock.
“INmune Bio reported 2Q19 with operating expenses of ~$2M, partially offset by a $1.5M non-cash charge (waiver of common stock issuable); net loss was ($0.4M). The company ended the period with $9.4M in cash on the balance sheet. In addition, recall that as a result of the $1M grant from the Alzheimer’s foundation and also conducting trials abroad which comes with significant R&D reimbursement, the runway is further extended.”,” Maxim Group’s analyst commented.
Shares of NASDAQ:INMB traded down $0.41 during trading on Wednesday, reaching $5.39. 300 shares of the stock were exchanged, compared to its average volume of 32,400. INmune Bio has a 1-year low of $5.66 and a 1-year high of $11.50. The stock has a fifty day moving average price of $8.98.
In other news, CEO Raymond Joseph Tesi purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were acquired at an average cost of $6.00 per share, for a total transaction of $60,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
An institutional investor recently raised its position in INmune Bio stock. BlackRock Inc. increased its holdings in shares of INmune Bio Inc (NASDAQ:INMB) by 1,556.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,048 shares of the company’s stock after acquiring an additional 2,864 shares during the quarter. BlackRock Inc.’s holdings in INmune Bio were worth $29,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 0.43% 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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