INmune Bio (NASDAQ:INMB) Earns “Buy” Rating from Maxim Group
INmune Bio (NASDAQ:INMB)‘s stock had its “buy” rating reaffirmed by research analysts at Maxim Group in a note issued to investors on Wednesday, AnalystRatings.com reports. They presently have a $13.00 price target on the stock. Maxim Group’s target price points to a potential upside of 113.11% from the stock’s current price.
The analysts wrote, “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.””
Shares of INmune Bio stock opened at $6.10 on Wednesday. INmune Bio has a fifty-two week low of $5.66 and a fifty-two week high of $11.50. The company has a 50 day moving average of $9.05.
In related news, CEO Raymond Joseph Tesi purchased 10,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was purchased at an average cost of $6.00 per share, with a total value of $60,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A hedge fund recently raised its stake in INmune Bio stock. BlackRock Inc. lifted its holdings in shares of INmune Bio Inc (NASDAQ:INMB) by 1,556.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,048 shares of the company’s stock after acquiring an additional 2,864 shares during the period. BlackRock Inc.’s holdings in INmune Bio were worth $29,000 at the end of the most recent reporting period. 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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