InMed Pharmaceuticals Inc. (NASDAQ:INM – Get Free Report) major shareholder Vivo Opportunity, Llc acquired 16,336 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were acquired at an average price of $1.55 per share, for a total transaction of $25,320.80. Following the purchase, the insider owned 605,013 shares of the company’s stock, valued at $937,770.15. This trade represents a 2.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Vivo Opportunity, Llc also recently made the following trade(s):
- On Monday, June 8th, Vivo Opportunity, Llc acquired 32,500 shares of InMed Pharmaceuticals stock. The shares were acquired at an average price of $1.52 per share, for a total transaction of $49,400.00.
- On Friday, June 5th, Vivo Opportunity, Llc acquired 55,011 shares of InMed Pharmaceuticals stock. The shares were acquired at an average price of $1.57 per share, for a total transaction of $86,367.27.
- On Thursday, June 4th, Vivo Opportunity, Llc acquired 6,743 shares of InMed Pharmaceuticals stock. The shares were acquired at an average price of $1.57 per share, for a total transaction of $10,586.51.
- On Wednesday, June 3rd, Vivo Opportunity, Llc acquired 7,783 shares of InMed Pharmaceuticals stock. The shares were acquired at an average price of $1.55 per share, for a total transaction of $12,063.65.
- On Tuesday, June 2nd, Vivo Opportunity, Llc acquired 22,848 shares of InMed Pharmaceuticals stock. The shares were acquired at an average price of $1.52 per share, for a total transaction of $34,728.96.
- On Friday, May 29th, Vivo Opportunity, Llc acquired 17,796 shares of InMed Pharmaceuticals stock. The shares were acquired at an average price of $1.57 per share, for a total transaction of $27,939.72.
- On Thursday, May 21st, Vivo Opportunity, Llc acquired 34,000 shares of InMed Pharmaceuticals stock. The shares were acquired at an average price of $1.69 per share, for a total transaction of $57,460.00.
- On Wednesday, May 20th, Vivo Opportunity, Llc acquired 56,210 shares of InMed Pharmaceuticals stock. The shares were acquired at an average price of $1.56 per share, for a total transaction of $87,687.60.
InMed Pharmaceuticals Stock Down 4.4%
INM opened at $1.51 on Friday. The firm has a market cap of $5.00 million, a price-to-earnings ratio of -0.52 and a beta of 0.98. InMed Pharmaceuticals Inc. has a fifty-two week low of $0.58 and a fifty-two week high of $5.50. The company’s 50-day moving average price is $1.04 and its 200 day moving average price is $1.04.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in InMed Pharmaceuticals stock. Virtu Financial LLC bought a new position in InMed Pharmaceuticals Inc. (NASDAQ:INM – Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 20,369 shares of the company’s stock, valued at approximately $45,000. Virtu Financial LLC owned about 0.73% of InMed Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 20.12% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of InMed Pharmaceuticals in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.
Get Our Latest Report on InMed Pharmaceuticals
InMed Pharmaceuticals Company Profile
InMed Pharmaceuticals is a clinical-stage biopharmaceutical company headquartered in Vancouver, British Columbia, that is dedicated to the discovery and development of novel therapeutics derived from cannabinoids. Leveraging a proprietary drug discovery engine, the company works to identify, design and optimize cannabinoid-based molecules with the goal of addressing diseases that have significant unmet medical needs. InMed’s integrated business model combines research, development and manufacturing capabilities under one roof to streamline the progression of promising assets from preclinical studies into human trials.
The company’s pipeline features multiple lead programs targeting both neurological and dermatological disorders.
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