Short Interest in InMed Pharmaceuticals Inc. (NASDAQ:INM) Rises By 1,125.9%

InMed Pharmaceuticals Inc. (NASDAQ:INM) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 33,100 shares, an increase of 1,125.9% from the January 15th total of 2,700 shares. Based on an average trading volume of 459,500 shares, the days-to-cover ratio is presently 0.1 days.

InMed Pharmaceuticals Stock Performance

Shares of INM opened at $3.20 on Thursday. The company has a current ratio of 5.07, a quick ratio of 4.22 and a debt-to-equity ratio of 0.08. InMed Pharmaceuticals has a 1-year low of $2.41 and a 1-year high of $15.70. The company has a 50-day moving average of $4.35 and a 200 day moving average of $4.73.

InMed Pharmaceuticals (NASDAQ:INM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($3.64) EPS for the quarter. InMed Pharmaceuticals had a negative net margin of 137.41% and a negative return on equity of 65.74%.

About InMed Pharmaceuticals

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.