InMed Pharmaceuticals Inc. (NASDAQ:INM) Short Interest Down 77.6% in November

InMed Pharmaceuticals Inc. (NASDAQ:INM) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 25,900 shares, a drop of 77.6% from the October 31st total of 115,500 shares. Based on an average trading volume of 49,000 shares, the days-to-cover ratio is presently 0.5 days.

InMed Pharmaceuticals Trading Down 5.1 %

Shares of INM traded down $0.23 during mid-day trading on Wednesday, reaching $4.30. The company had a trading volume of 19,617 shares, compared to its average volume of 119,179. The firm has a fifty day simple moving average of $4.84 and a 200-day simple moving average of $5.14. The stock has a market cap of $3.10 million, a price-to-earnings ratio of -0.31 and a beta of 0.36. InMed Pharmaceuticals has a fifty-two week low of $2.41 and a fifty-two week high of $15.70. The company has a current ratio of 5.07, a quick ratio of 4.22 and a debt-to-equity ratio of 0.08.

InMed Pharmaceuticals (NASDAQ:INM) last released its quarterly earnings results on Friday, September 27th. The company reported ($3.80) earnings per share for the quarter. The firm had revenue of $1.28 million for the quarter. InMed Pharmaceuticals had a negative net margin of 137.41% and a negative return on equity of 65.74%.

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.