InMed Pharmaceuticals Inc. (NASDAQ:INM) Short Interest Up 1,125.9% in January

InMed Pharmaceuticals Inc. (NASDAQ:INM) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 33,100 shares, a growth of 1,125.9% from the January 15th total of 2,700 shares. Based on an average trading volume of 459,500 shares, the short-interest ratio is currently 0.1 days.

InMed Pharmaceuticals Price Performance

Shares of INM traded up $0.05 during midday trading on Friday, reaching $3.15. The stock had a trading volume of 14,301 shares, compared to its average volume of 958,505. The company has a market capitalization of $2.27 million, a P/E ratio of -0.23 and a beta of 0.19. InMed Pharmaceuticals has a 52 week low of $2.41 and a 52 week high of $15.70. The firm’s 50 day moving average price is $4.30 and its 200-day moving average price is $4.71. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.07 and a quick ratio of 4.22.

InMed Pharmaceuticals (NASDAQ:INM) last released 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 137.41% and a negative return on equity of 65.74%.

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.