InMed Pharmaceuticals Inc. (NASDAQ:INM – Get Free Report) major shareholder Adar1 Capital Management, Llc bought 8,340 shares of InMed Pharmaceuticals stock in a transaction dated Wednesday, September 16th. The stock was acquired at an average cost of $1.29 per share, for a total transaction of $10,758.60. Following the completion of the transaction, the insider directly owned 892,101 shares in the company, valued at approximately $1,150,810.29. This trade represents a 0.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Adar1 Capital Management, Llc also recently made the following trade(s):
- On Tuesday, September 15th, Adar1 Capital Management, Llc purchased 54,256 shares of InMed Pharmaceuticals stock. The shares were acquired at an average cost of $1.30 per share, with a total value of $70,532.80.
InMed Pharmaceuticals Stock Performance
NASDAQ:INM remained flat at $1.28 during mid-day trading on Wednesday. 19,749 shares of the company traded hands, compared to its average volume of 947,402. InMed Pharmaceuticals Inc. has a 1-year low of $0.57 and a 1-year high of $2.50. The company has a 50 day moving average price of $1.48 and a two-hundred day moving average price of $1.21. The stock has a market cap of $4.24 million, a P/E ratio of -0.44 and a beta of 0.98.
Institutional Investors Weigh In On InMed Pharmaceuticals
A hedge fund recently bought a new stake in InMed Pharmaceuticals stock. Montanova Capital LLC acquired a new position in InMed Pharmaceuticals Inc. (NASDAQ:INM – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 100,000 shares of the company’s stock, valued at approximately $155,000. Montanova Capital LLC owned approximately 3.02% of InMed Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 20.12% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings downgraded shares of InMed Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.
Get Our Latest Research Report on INM
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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