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

InMed Pharmaceuticals Inc. (NASDAQ:INM) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 25,900 shares, a decrease of 77.6% from the October 31st total of 115,500 shares. Based on an average trading volume of 49,000 shares, the days-to-cover ratio is presently 0.5 days.

InMed Pharmaceuticals Stock Performance

INM stock traded down $0.01 on Friday, hitting $4.29. The company’s stock had a trading volume of 14,145 shares, compared to its average volume of 118,724. InMed Pharmaceuticals has a 1 year low of $2.41 and a 1 year high of $15.70. The company has a current ratio of 5.07, a quick ratio of 4.22 and a debt-to-equity ratio of 0.08. The stock has a market cap of $3.09 million, a price-to-earnings ratio of -0.31 and a beta of 0.36. The firm has a 50 day moving average of $4.80 and a two-hundred day moving average of $5.12.

InMed Pharmaceuticals (NASDAQ:INM) last announced its earnings results on Friday, September 27th. The company reported ($3.80) EPS for the quarter. InMed Pharmaceuticals had a negative net margin of 137.41% and a negative return on equity of 65.74%. The business had revenue of $1.28 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.