Westside Investment Management Inc. Lowers Holdings in INmune Bio, Inc. $INMB

Westside Investment Management Inc. cut its holdings in INmune Bio, Inc. (NASDAQ:INMB) by 76.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,375 shares of the company’s stock after selling 67,825 shares during the period. Westside Investment Management Inc. owned 0.09% of INmune Bio worth $49,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Rhumbline Advisers raised its holdings in shares of INmune Bio by 14.4% during the 1st quarter. Rhumbline Advisers now owns 19,153 shares of the company’s stock worth $150,000 after acquiring an additional 2,409 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of INmune Bio by 9.0% during the 1st quarter. Bank of New York Mellon Corp now owns 54,923 shares of the company’s stock worth $429,000 after acquiring an additional 4,521 shares in the last quarter. MAI Capital Management raised its holdings in shares of INmune Bio by 6.0% during the 1st quarter. MAI Capital Management now owns 106,797 shares of the company’s stock worth $834,000 after acquiring an additional 6,030 shares in the last quarter. Quarry LP purchased a new stake in shares of INmune Bio during the 1st quarter worth approximately $48,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of INmune Bio by 19.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 41,320 shares of the company’s stock worth $323,000 after acquiring an additional 6,654 shares in the last quarter. 12.72% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on INMB shares. Wall Street Zen cut INmune Bio from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of INmune Bio in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.00.

INmune Bio Stock Performance

NASDAQ INMB opened at $1.72 on Wednesday. The company has a market cap of $45.72 million, a P/E ratio of -0.81 and a beta of 0.95. The business’s 50 day moving average price is $1.93 and its 200-day moving average price is $4.03. INmune Bio, Inc. has a fifty-two week low of $1.71 and a fifty-two week high of $11.64.

INmune Bio (NASDAQ:INMB) last released its earnings results on Thursday, October 30th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.07. As a group, equities analysts predict that INmune Bio, Inc. will post -2.24 EPS for the current year.

INmune Bio 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.