InMed Pharmaceuticals Inc. (NASDAQ:INM) Short Interest Down 25.1% in February

InMed Pharmaceuticals Inc. (NASDAQ:INM) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 26,900 shares, a drop of 25.1% from the February 13th total of 35,900 shares. Currently, 3.8% of the company’s shares are sold short. Based on an average daily volume of 462,300 shares, the short-interest ratio is presently 0.1 days.

InMed Pharmaceuticals Trading Down 2.8 %

Shares of InMed Pharmaceuticals stock traded down $0.08 on Monday, hitting $2.74. 24,166 shares of the company traded hands, compared to its average volume of 228,398. The stock’s 50 day moving average price is $3.49 and its 200-day moving average price is $4.45. 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 has a 52 week low of $2.41 and a 52 week high of $15.70. The company has a market cap of $3.31 million, a PE ratio of -0.20 and a beta of 0.18.

InMed Pharmaceuticals (NASDAQ:INM) last posted its quarterly earnings results 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%.

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.