InMed Pharmaceuticals Inc. (NASDAQ:INM) Short Interest Update

InMed Pharmaceuticals Inc. (NASDAQ:INM) saw a significant growth in short interest in 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 volume of 350,700 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On InMed Pharmaceuticals

An institutional investor recently bought a new position in InMed Pharmaceuticals stock. Armistice Capital LLC purchased a new position in InMed Pharmaceuticals Inc. (NASDAQ:INM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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. 20.12% of the stock is currently owned by institutional investors.

InMed Pharmaceuticals Stock Performance

NASDAQ:INM traded down $0.05 during trading hours on Thursday, hitting $0.25. 618,726 shares of the company traded hands, compared to its average volume of 314,442. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.03 and a quick ratio of 6.59. The firm’s 50-day simple moving average is $0.35 and its 200-day simple moving average is $0.40. InMed Pharmaceuticals has a one year low of $0.25 and a one year high of $2.08.

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

InMed Pharmaceuticals Company Profile

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.