InMed Pharmaceuticals Inc. (NASDAQ:INM) Sees Large Growth in Short Interest

InMed Pharmaceuticals Inc. (NASDAQ:INM) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 27,500 shares, a growth of 26.7% from the March 15th total of 21,700 shares. Based on an average daily volume of 461,600 shares, the short-interest ratio is presently 0.1 days. Currently, 3.9% of the shares of the company are short sold.

InMed Pharmaceuticals Stock Performance

INM traded up $0.22 during midday trading on Monday, reaching $2.94. The company had a trading volume of 181,195 shares, compared to its average volume of 230,174. The business has a 50-day moving average of $2.69 and a two-hundred day moving average of $3.92. The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.09. InMed Pharmaceuticals has a 1 year low of $1.72 and a 1 year high of $15.70. The company has a market cap of $3.55 million, a P/E ratio of -0.21 and a beta of 0.30.

InMed Pharmaceuticals (NASDAQ:INM) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($3.64) earnings per share for the quarter. InMed Pharmaceuticals had a negative net margin of 163.75% and a negative return on equity of 90.74%.

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.