InMed Pharmaceuticals Inc. (NASDAQ:INM – Get Free Report) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 534,900 shares, a growth of 55.3% from the August 31st total of 344,500 shares. Based on an average daily trading volume, of 6,890,000 shares, the short-interest ratio is presently 0.1 days.
InMed Pharmaceuticals Stock Performance
INM stock opened at $0.23 on Friday. The stock has a fifty day moving average of $0.26 and a 200-day moving average of $0.28. InMed Pharmaceuticals has a fifty-two week low of $0.12 and a fifty-two week high of $2.08. The company has a current ratio of 6.58, a quick ratio of 5.80 and a debt-to-equity ratio of 0.07.
Institutional Investors Weigh In On InMed Pharmaceuticals
A hedge fund recently bought a new stake in InMed Pharmaceuticals stock. Armistice Capital LLC purchased a new position in InMed Pharmaceuticals Inc. (NASDAQ:INM – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 205,968 shares of the company’s stock, valued at approximately $86,000. Armistice Capital LLC owned 3.92% of InMed Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 20.12% of the company’s stock.
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.
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