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

InMed Pharmaceuticals Inc. (NASDAQ:INM) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 25,900 shares, a drop 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 currently 0.5 days.

InMed Pharmaceuticals Stock Down 0.2 %

Shares of NASDAQ INM traded down $0.01 during midday trading 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. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.07 and a quick ratio of 4.22. The firm has a market capitalization of $3.09 million, a price-to-earnings ratio of -0.31 and a beta of 0.36. The business’s fifty day simple moving average is $4.80 and its two-hundred day simple moving average is $5.12. InMed Pharmaceuticals has a 1 year low of $2.41 and a 1 year high of $15.70.

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