InMed Pharmaceuticals Inc. (NASDAQ:INM – Get Free Report) major shareholder Vivo Opportunity, Llc acquired 6,743 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was bought at an average price of $1.57 per share, for a total transaction of $10,586.51. Following the completion of the acquisition, the insider owned 638,960 shares in the company, valued at approximately $1,003,167.20. The trade was a 1.07% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock 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 stock was bought 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 stock was bought at an average price of $1.57 per share, for a total transaction of $86,367.27.
- On Wednesday, June 3rd, Vivo Opportunity, Llc acquired 7,783 shares of InMed Pharmaceuticals stock. The stock was bought 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 stock was bought at an average price of $1.52 per share, for a total transaction of $34,728.96.
- On Monday, June 1st, Vivo Opportunity, Llc bought 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 bought 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 bought 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.
- On Wednesday, May 20th, Vivo Opportunity, Llc bought 56,210 shares of InMed Pharmaceuticals stock. The shares were purchased at an average cost of $1.56 per share, for a total transaction of $87,687.60.
InMed Pharmaceuticals Trading Down 1.3%
INM opened at $1.51 on Thursday. 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 12-month low of $0.58 and a 12-month high of $5.50. The stock’s 50-day moving average price is $1.01 and its 200 day moving average price is $1.04.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of InMed Pharmaceuticals in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.
Get Our Latest Stock Report on InMed Pharmaceuticals
Institutional Inflows and Outflows
An institutional investor recently bought a new position in InMed Pharmaceuticals stock. Virtu Financial LLC purchased a new position in shares of InMed Pharmaceuticals Inc. (NASDAQ:INM – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,369 shares of the company’s stock, valued at approximately $45,000. Virtu Financial LLC owned 0.73% of InMed Pharmaceuticals as of its most recent SEC filing. Hedge funds and other institutional investors own 20.12% of the company’s stock.
More InMed Pharmaceuticals News
Here are the key news stories impacting InMed Pharmaceuticals this week:
- Positive Sentiment: Major shareholder Vivo Opportunity, LLC continued accumulating shares in multiple transactions, including a recent 17,796-share buy and several larger purchases earlier in June. This steady insider buying may signal confidence in InMed Pharmaceuticals’ longer-term prospects. Article Title
- Neutral Sentiment: InMed Pharmaceuticals’ stock has been trading above both its 50-day and 200-day moving averages, suggesting improved technical momentum, but the company remains a small-cap biotech with negative earnings and limited fundamentals. Stock Quote
- Negative Sentiment: Short interest in InMed Pharmaceuticals jumped sharply in May, indicating that bearish traders have increased their bets against the stock. Higher short interest can reflect skepticism about the company’s near-term fundamentals. Short Interest and Insider Trades
- Negative Sentiment: Wall Street sentiment remains weak, with the stock carrying an average “Sell” rating and Weiss Ratings recently reiterating a sell call. That cautious analyst stance may limit upside enthusiasm. Weiss Ratings
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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