InMed Pharmaceuticals Inc. (NASDAQ:INM – Get Free Report) major shareholder Adar1 Capital Management, Llc acquired 28,505 shares of InMed Pharmaceuticals stock in a transaction dated Monday, September 14th. The stock was purchased at an average cost of $1.29 per share, for a total transaction of $36,771.45. Following the completion of the purchase, the insider owned 829,505 shares in the company, valued at approximately $1,070,061.45. The trade was a 3.56% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Adar1 Capital Management, Llc also recently made the following trade(s):
- On Wednesday, September 16th, Adar1 Capital Management, Llc bought 8,340 shares of InMed Pharmaceuticals stock. The stock was purchased at an average price of $1.29 per share, for a total transaction of $10,758.60.
- On Tuesday, September 15th, Adar1 Capital Management, Llc acquired 54,256 shares of InMed Pharmaceuticals stock. The stock was acquired at an average cost of $1.30 per share, with a total value of $70,532.80.
InMed Pharmaceuticals Stock Performance
INM stock remained flat at $1.28 during mid-day trading on Wednesday. The company’s stock had a trading volume of 19,749 shares, compared to its average volume of 63,972. InMed Pharmaceuticals Inc. has a 1-year low of $0.57 and a 1-year high of $2.50. The business’s 50 day moving average price is $1.47 and its 200 day moving average price is $1.21. The company has a market capitalization of $4.24 million, a P/E ratio of -0.44 and a beta of 0.98.
Analyst Ratings Changes
Separately, Weiss Ratings cut InMed Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, InMed Pharmaceuticals presently has a consensus rating of “Sell”.
View Our Latest Report on InMed Pharmaceuticals
Hedge Funds Weigh In On InMed Pharmaceuticals
An institutional investor recently bought a new stake in InMed Pharmaceuticals stock. Montanova Capital LLC bought a new position in InMed Pharmaceuticals Inc. (NASDAQ:INM – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $155,000. Montanova Capital LLC owned approximately 3.02% of InMed Pharmaceuticals at the end of the most recent reporting period. 20.12% of the stock is owned by institutional investors and hedge funds.
About InMed Pharmaceuticals
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.
Featured Stories
- Five stocks we like better than InMed Pharmaceuticals
- 3 Luxury Consumer Brands to Watch in a Beaten-Down Sector
- Jackson’s Record Quarter Powers the Bull Case
- Holiday Shopping Is Almost Here—And Target May Be Ready to Win Big
- AI Panic Hit Tech Stocks—But NVIDIA’s Growth Engine Is Intact
Receive News & Ratings for InMed Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InMed Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.
