InMed Pharmaceuticals Inc. (NASDAQ:INM) Short Interest Down 46.0% in May

InMed Pharmaceuticals Inc. (NASDAQ:INM) saw a significant decrease in short interest in May. As of May 31st, there was short interest totalling 49,600 shares, a decrease of 46.0% from the May 15th total of 91,900 shares. Currently, 7.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,280,000 shares, the days-to-cover ratio is currently 0.0 days.

InMed Pharmaceuticals Trading Down 6.3%

Shares of INM traded down $0.16 during midday trading on Monday, hitting $2.37. The stock had a trading volume of 149,733 shares, compared to its average volume of 554,635. The business has a 50-day simple moving average of $2.79 and a two-hundred day simple moving average of $3.36. The firm has a market cap of $2.86 million, a P/E ratio of -0.17 and a beta of 0.17. The company has a current ratio of 3.05, a quick ratio of 2.44 and a debt-to-equity ratio of 0.09. InMed Pharmaceuticals has a fifty-two week low of $1.72 and a fifty-two week high of $15.70.

InMed Pharmaceuticals (NASDAQ:INM) last posted its quarterly earnings data on Monday, May 12th. The company reported ($1.94) earnings per share for the quarter. The firm had revenue of $1.26 million 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.