In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Inmune Bio Inc (INMB), with a price target of $13. The company’s shares closed last Monday at $6.10, close to its 52-week low of $5.66.
McCarthy observed:
“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.”
According to TipRanks.com, McCarthy has 0 stars on 0-5 star ranking scale with an average return of -22.8% and a 23.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Lineage Cell Therapeutics, Inc., Hancock Jaffe Laboratories Inc, and Aridis Pharmaceuticals Inc.
Currently, the analyst consensus on Inmune Bio Inc is a Moderate Buy with an average price target of $13.
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The company has a one-year high of $11.50 and a one-year low of $5.66. Currently, Inmune Bio Inc has an average volume of 19.1K.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of INMB in relation to earlier this year.
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Inmune Bio, Inc. is a clinical stage biotechnology company, which develops immunotherapies that reprogram a patient’s innate immune system to allow the immune system to fight cancer. Its products include INKMUNE and INB03. The company was founded by Mark Lowdell in September 2015 and is headquartered in La Jolla, CA.
