Short Interest in InMed Pharmaceuticals Inc. (NASDAQ:INM) Drops By 19.3%

InMed Pharmaceuticals Inc. (NASDAQ:INM) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 21,700 shares, a decline of 19.3% from the February 28th total of 26,900 shares. Approximately 3.1% of the company’s shares are short sold. Based on an average daily volume of 458,500 shares, the short-interest ratio is presently 0.0 days.

InMed Pharmaceuticals Trading Up 1.9 %

INM traded up $0.04 on Tuesday, reaching $2.11. 20,400 shares of the company’s stock were exchanged, compared to its average volume of 227,110. InMed Pharmaceuticals has a twelve month low of $2.01 and a twelve month high of $15.70. The company’s 50 day moving average is $3.06 and its 200-day moving average is $4.19. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.44 and a current ratio of 3.05. The company has a market cap of $2.55 million, a price-to-earnings ratio of -0.15 and a beta of 0.18.

InMed Pharmaceuticals (NASDAQ:INM) last posted its earnings results on Wednesday, February 12th. The company reported ($3.64) earnings per share (EPS) 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.