Short Interest in InMed Pharmaceuticals Inc. (NASDAQ:INM) Increases By 1,011.7%

Posted by Lauren Steadman on Apr 26th, 2024

InMed Pharmaceuticals Inc. (NASDAQ:INM – Get Free Report) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 114,500 shares, a growth of 1,011.7% from the March 31st total of 10,300 shares. Based on an average daily trading volume, of 350,700 shares, the days-to-cover ratio is currently 0.3 days.

InMed Pharmaceuticals Price Performance

NASDAQ:INM opened at $0.25 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.03 and a quick ratio of 6.59. InMed Pharmaceuticals has a one year low of $0.25 and a one year high of $2.08. The firm has a 50-day moving average of $0.35 and a 200-day moving average of $0.40.

InMed Pharmaceuticals (NASDAQ:INM – Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.19) earnings per share (EPS) for the quarter. The company had revenue of $1.24 million for the quarter. InMed Pharmaceuticals had a negative return on equity of 54.31% and a negative net margin of 115.76%.

Institutional Trading of InMed Pharmaceuticals

An institutional investor recently bought a new position in InMed Pharmaceuticals stock. Armistice Capital LLC purchased a new position in shares of InMed Pharmaceuticals Inc. (NASDAQ:INM – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 205,968 shares of the company’s stock, valued at approximately $86,000. Armistice Capital LLC owned about 3.92% of InMed Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 20.12% of the company’s stock.

InMed Pharmaceuticals Company Profile

(Get Free Report)

InMed Pharmaceuticals Inc, a clinical stage pharmaceutical company, develops a pipeline of prescription-based products. The company operates through two segments, the InMed and the BayMedica. The InMed segment researches and develops cannabinoid-based pharmaceuticals products. The BayMedica segment develops proprietary manufacturing technologies to produce and sell rare cannabinoids for the health and wellness industry.