InMed Pharmaceuticals Inc. (NASDAQ:INM) Sees Significant Decline in Short Interest

InMed Pharmaceuticals Inc. (NASDAQ:INM) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 21,700 shares, a decrease of 19.3% from the February 28th total of 26,900 shares. Based on an average trading volume of 458,500 shares, the days-to-cover ratio is presently 0.0 days. Approximately 3.1% of the shares of the company are short sold.

InMed Pharmaceuticals Stock Performance

Shares of NASDAQ INM traded up $0.02 during trading on Wednesday, reaching $2.10. 5,788 shares of the company traded hands, compared to its average volume of 227,126. The company has a current ratio of 3.05, a quick ratio of 2.44 and a debt-to-equity ratio of 0.09. The stock has a market cap of $2.53 million, a P/E ratio of -0.15 and a beta of 0.18. The firm’s fifty day simple moving average is $3.01 and its 200 day simple moving average is $4.17. InMed Pharmaceuticals has a 12-month low of $1.99 and a 12-month high of $15.70.

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

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.