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

InMed Pharmaceuticals Inc. (NASDAQ:INM) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 27,500 shares, an increase of 26.7% from the March 15th total of 21,700 shares. Currently, 3.9% of the shares of the stock are short sold. Based on an average daily volume of 461,600 shares, the days-to-cover ratio is currently 0.1 days.

InMed Pharmaceuticals Stock Up 1.9 %

Shares of INM opened at $2.72 on Friday. InMed Pharmaceuticals has a 12-month low of $1.72 and a 12-month high of $15.70. 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 company has a market capitalization of $3.28 million, a PE ratio of -0.20 and a beta of 0.30. The business’s 50 day moving average is $2.69 and its 200 day moving average is $3.93.

InMed Pharmaceuticals (NASDAQ:INM) last issued its quarterly earnings data 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%.

About InMed Pharmaceuticals

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.