InMed Pharmaceuticals Inc. (NASDAQ:INM) Short Interest Down 77.6% in November

InMed Pharmaceuticals Inc. (NASDAQ:INM) was the target of a significant drop in short interest during 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 short-interest ratio is currently 0.5 days.

InMed Pharmaceuticals Trading Down 5.1 %

NASDAQ INM traded down $0.23 on Wednesday, reaching $4.30. The stock had a trading volume of 19,617 shares, compared to its average volume of 119,179. InMed Pharmaceuticals has a 12-month low of $2.41 and a 12-month high of $15.70. The stock has a fifty day moving average price of $4.84 and a two-hundred day moving average price of $5.14. The firm has a market capitalization of $3.10 million, a price-to-earnings ratio of -0.31 and a beta of 0.36. The company has a quick ratio of 4.22, a current ratio of 5.07 and a debt-to-equity ratio of 0.08.

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