InMed Pharmaceuticals Inc. (NASDAQ:INM) Sees Large Growth in Short Interest

InMed Pharmaceuticals Inc. (NASDAQ:INM) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 115,500 shares, a growth of 188.8% from the October 15th total of 40,000 shares. Based on an average daily volume of 6,410,000 shares, the days-to-cover ratio is currently 0.0 days.

InMed Pharmaceuticals Trading Up 9.3 %

Shares of NASDAQ INM opened at $5.08 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.41 and a quick ratio of 3.78. The stock has a market capitalization of $67.82 million, a P/E ratio of -3.20 and a beta of 0.36. InMed Pharmaceuticals has a 1-year low of $2.41 and a 1-year high of $15.70. The business has a fifty day moving average price of $0.25 and a 200 day moving average price of $0.26.

InMed Pharmaceuticals (NASDAQ:INM) last issued its quarterly earnings data on Friday, September 27th. The company reported ($0.19) earnings per share for the quarter. The company had revenue of $1.28 million for the quarter. InMed Pharmaceuticals had a negative return on equity of 71.97% and a negative net margin of 166.94%.

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.