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

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

InMed Pharmaceuticals Stock Down 22.0 %

InMed Pharmaceuticals stock opened at $2.06 on Monday. 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 firm has a market cap of $2.49 million, a P/E ratio of -0.15 and a beta of 0.18. The business has a fifty day moving average of $3.12 and a two-hundred day moving average of $4.22. InMed Pharmaceuticals has a twelve month low of $2.06 and a twelve month high of $15.70.

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 return on equity of 90.74% and a negative net margin of 163.75%.

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.