InMed Pharmaceuticals Inc. (NASDAQ:INM) Short Interest Up 55.3% in September

InMed Pharmaceuticals Inc. (NASDAQ:INM) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 534,900 shares, an increase of 55.3% from the August 31st total of 344,500 shares. Based on an average daily volume of 6,890,000 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of InMed Pharmaceuticals

A hedge fund recently bought a new stake in InMed Pharmaceuticals stock. Armistice Capital LLC purchased a new stake in shares of InMed Pharmaceuticals Inc. (NASDAQ:INM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 205,968 shares of the company’s stock, valued at approximately $86,000. Armistice Capital LLC owned approximately 3.92% of InMed Pharmaceuticals as of its most recent SEC filing. Institutional investors own 20.12% of the company’s stock.

InMed Pharmaceuticals Price Performance

Shares of NASDAQ INM opened at $0.23 on Friday. InMed Pharmaceuticals has a 1 year low of $0.12 and a 1 year high of $2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.58 and a quick ratio of 5.80. The firm has a 50-day moving average of $0.26 and a 200 day moving average of $0.28.

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.