InMed Pharmaceuticals Inc. (NASDAQ:INM) Short Interest Update

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

InMed Pharmaceuticals Stock Performance

Shares of InMed Pharmaceuticals stock opened at $0.23 on Friday. InMed Pharmaceuticals has a one year low of $0.12 and a one year high of $2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.80 and a current ratio of 6.58. The firm has a fifty day moving average of $0.26 and a two-hundred day moving average of $0.28.

Institutional Inflows and Outflows

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

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.