Eric A. Adams Purchases 41,600 Shares of InMed Pharmaceuticals Inc. (NASDAQ:INM) Stock

InMed Pharmaceuticals Inc. (NASDAQ:INMGet Free Report) CEO Eric A. Adams bought 41,600 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was bought at an average price of $0.36 per share, for a total transaction of $14,976.00. Following the completion of the purchase, the chief executive officer now directly owns 43,959 shares in the company, valued at $15,825.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

InMed Pharmaceuticals Stock Performance

Shares of NASDAQ:INM opened at $0.40 on Friday. The business’s 50 day moving average is $0.37 and its 200 day moving average is $0.55. InMed Pharmaceuticals Inc. has a 52-week low of $0.29 and a 52-week high of $2.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.03 and a quick ratio of 6.59.

Hedge Funds Weigh In On InMed Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in INM. UBS Group AG bought a new stake in shares of InMed Pharmaceuticals in the third quarter valued at about $38,000. Virtu Financial LLC purchased a new position in InMed Pharmaceuticals during the 4th quarter valued at about $36,000. Renaissance Technologies LLC purchased a new position in InMed Pharmaceuticals during the 1st quarter valued at about $84,000. Finally, Armistice Capital LLC raised its holdings in shares of InMed Pharmaceuticals by 8.0% in the 4th quarter. Armistice Capital LLC now owns 97,163 shares of the company’s stock valued at $196,000 after purchasing an additional 7,163 shares in the last quarter. Institutional investors own 0.47% of the company’s stock.

About InMed Pharmaceuticals

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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.

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