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

InMed Pharmaceuticals Inc. (NASDAQ:INM) saw a large drop in short interest in 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. Based on an average daily volume of 462,300 shares, the days-to-cover ratio is presently 0.1 days. Currently, 3.8% of the shares of the company are sold short.

InMed Pharmaceuticals Price Performance

INM stock traded down $0.08 during trading on Monday, reaching $2.74. The company’s stock had a trading volume of 24,166 shares, compared to its average volume of 228,398. InMed Pharmaceuticals has a 1 year low of $2.41 and a 1 year high of $15.70. The company has a quick ratio of 2.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $3.31 million, a P/E ratio of -0.20 and a beta of 0.18. The company’s fifty day moving average is $3.49 and its 200-day moving average is $4.45.

InMed Pharmaceuticals (NASDAQ:INM) last issued its quarterly earnings data 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.