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

InMed Pharmaceuticals Inc. (NASDAQ:INM) was the target of 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 short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in InMed Pharmaceuticals stock. Armistice Capital LLC acquired a new stake in InMed Pharmaceuticals Inc. (NASDAQ:INM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 205,968 shares of the company’s stock, valued at approximately $86,000. Armistice Capital LLC owned about 3.92% of InMed Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 20.12% of the company’s stock.

InMed Pharmaceuticals Price Performance

NASDAQ:INM opened at $0.25 on Friday. InMed Pharmaceuticals has a twelve month low of $0.25 and a twelve month high of $2.08. The company’s 50-day moving average price is $0.35 and its 200-day moving average price is $0.40. 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 (NASDAQ:INM) last announced its quarterly earnings results on Tuesday, February 13th. The company reported ($0.19) earnings per share for the quarter. The firm had revenue of $1.24 million for the quarter. InMed Pharmaceuticals had a negative net margin of 115.76% and a negative return on equity of 54.31%.

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.