Insider Buying: InMed Pharmaceuticals (NASDAQ:INM) Major Shareholder Buys $12,063.65 in Stock

InMed Pharmaceuticals Inc. (NASDAQ:INMGet Free Report) major shareholder Vivo Opportunity, Llc purchased 7,783 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was bought at an average price of $1.55 per share, with a total value of $12,063.65. Following the transaction, the insider owned 632,835 shares of the company’s stock, valued at $980,894.25. This represents a 1.25% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 purchased at an average cost of $1.52 per share, with a total value of $49,400.00.
  • On Friday, June 5th, Vivo Opportunity, Llc acquired 55,011 shares of InMed Pharmaceuticals stock. The stock was purchased at an average cost of $1.57 per share, with a total value of $86,367.27.
  • On Thursday, June 4th, Vivo Opportunity, Llc acquired 6,743 shares of InMed Pharmaceuticals stock. The stock was purchased at an average cost of $1.57 per share, with a total value of $10,586.51.
  • On Tuesday, June 2nd, Vivo Opportunity, Llc acquired 22,848 shares of InMed Pharmaceuticals stock. The stock was purchased at an average cost of $1.52 per share, with a total value of $34,728.96.
  • On Monday, June 1st, Vivo Opportunity, Llc acquired 16,336 shares of InMed Pharmaceuticals stock. The stock was purchased at an average cost of $1.55 per share, with a total value of $25,320.80.
  • On Friday, May 29th, Vivo Opportunity, Llc acquired 17,796 shares of InMed Pharmaceuticals stock. The stock was purchased at an average cost of $1.57 per share, with a total value of $27,939.72.
  • On Thursday, May 21st, Vivo Opportunity, Llc acquired 34,000 shares of InMed Pharmaceuticals stock. The stock was purchased at an average cost of $1.69 per share, with a total value of $57,460.00.
  • On Wednesday, May 20th, Vivo Opportunity, Llc acquired 56,210 shares of InMed Pharmaceuticals stock. The stock was purchased at an average cost of $1.56 per share, with a total value of $87,687.60.

InMed Pharmaceuticals Price Performance

Shares of NASDAQ INM opened at $1.51 on Friday. The company has a market cap of $5.00 million, a P/E 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 firm has a 50-day simple moving average of $1.04 and a two-hundred day simple moving average of $1.04.

InMed Pharmaceuticals (NASDAQ:INMGet Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($94.44) by $93.75. InMed Pharmaceuticals had a negative net margin of 132.87% and a negative return on equity of 80.85%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of InMed Pharmaceuticals in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Check Out Our Latest Stock Report on INM

Hedge Funds Weigh In On InMed Pharmaceuticals

A hedge fund recently bought a new stake in InMed Pharmaceuticals stock. Sabby Management LLC bought a new position in shares of InMed Pharmaceuticals Inc. (NASDAQ:INMFree Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 219,998 shares of the company’s stock, valued at approximately $482,000. InMed Pharmaceuticals accounts for approximately 0.6% of Sabby Management LLC’s portfolio, making the stock its 12th biggest holding. Sabby Management LLC owned approximately 7.86% of InMed Pharmaceuticals at the end of the most recent reporting period. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

About InMed Pharmaceuticals

(Get Free Report)

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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Insider Buying and Selling by Quarter for InMed Pharmaceuticals (NASDAQ:INM)

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