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

InMed Pharmaceuticals Inc. (NASDAQ:INM) was the recipient of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 26,900 shares, a decline of 25.1% from the February 13th total of 35,900 shares. Approximately 3.8% of the shares of the company are sold short. Based on an average trading volume of 462,300 shares, the short-interest ratio is currently 0.1 days.

InMed Pharmaceuticals Stock Down 2.8 %

InMed Pharmaceuticals stock opened at $2.74 on Tuesday. The stock has a 50 day moving average of $3.44 and a two-hundred day moving average of $4.42. InMed Pharmaceuticals has a twelve month low of $2.41 and a twelve month high of $15.70. The stock has a market capitalization of $3.31 million, a price-to-earnings ratio of -0.20 and a beta of 0.18. The company has a current ratio of 3.05, a quick ratio of 2.44 and a debt-to-equity ratio of 0.09.

InMed Pharmaceuticals (NASDAQ:INM) last posted 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%.

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.