Short Interest in InMed Pharmaceuticals Inc. (NASDAQ:INM) Increases By 26.7%

InMed Pharmaceuticals Inc. (NASDAQ:INM) was the recipient of a significant growth in short interest during the month of 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. Approximately 3.9% of the shares of the company are short sold. Based on an average daily trading volume, of 461,600 shares, the days-to-cover ratio is presently 0.1 days.

InMed Pharmaceuticals Stock Up 8.8 %

InMed Pharmaceuticals stock opened at $2.96 on Tuesday. The business’s 50-day moving average price is $2.69 and its 200 day moving average price is $3.91. The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.09. The firm has a market cap of $3.57 million, a price-to-earnings ratio of -0.22 and a beta of 0.30. InMed Pharmaceuticals has a 52 week low of $1.72 and a 52 week high of $15.70.

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

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.