InMed Pharmaceuticals Inc. (NASDAQ:INM – Get Free Report) major shareholder Vivo Opportunity, Llc acquired 56,210 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $1.56 per share, for a total transaction of $87,687.60. Following the completion of the acquisition, the insider directly owned 543,129 shares in the company, valued at approximately $847,281.24. This represents a 11.54% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Large shareholders that own at least 10% 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 purchased at an average cost 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 purchased at an average cost 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 purchased at an average cost 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 purchased at an average cost 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 purchased at an average cost of $1.52 per share, for a total transaction of $34,728.96.
- On Monday, June 1st, Vivo Opportunity, Llc acquired 16,336 shares of InMed Pharmaceuticals stock. The shares were purchased at an average cost of $1.55 per share, for a total transaction of $25,320.80.
- On Friday, May 29th, Vivo Opportunity, Llc acquired 17,796 shares of InMed Pharmaceuticals stock. The shares were purchased at an average cost 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 purchased at an average cost of $1.69 per share, for a total transaction of $57,460.00.
InMed Pharmaceuticals Price Performance
Shares of INM opened at $1.51 on Friday. The stock has a market capitalization of $5.00 million, a price-to-earnings ratio of -0.52 and a beta of 0.98. InMed Pharmaceuticals Inc. has a 1 year low of $0.58 and a 1 year high of $5.50. The business’s 50 day simple moving average is $1.04 and its 200-day simple moving average is $1.04.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of InMed Pharmaceuticals in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, InMed Pharmaceuticals has a consensus rating of “Sell”.
Read Our Latest Research Report on InMed Pharmaceuticals
Institutional Trading of InMed Pharmaceuticals
An institutional investor recently bought a new position in InMed Pharmaceuticals stock. Sabby Management LLC acquired a new stake in InMed Pharmaceuticals Inc. (NASDAQ:INM – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 219,998 shares of the company’s stock, valued at approximately $482,000. InMed Pharmaceuticals comprises approximately 0.6% of Sabby Management LLC’s portfolio, making the stock its 12th biggest position. Sabby Management LLC owned approximately 7.86% of InMed Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 20.12% of the company’s stock.
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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