InMed Pharmaceuticals Inc. (NASDAQ:INM) Sees Large Growth in Short Interest

InMed Pharmaceuticals Inc. (NASDAQ:INM) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 33,100 shares, an increase of 1,125.9% from the January 15th total of 2,700 shares. Based on an average trading volume of 459,500 shares, the short-interest ratio is currently 0.1 days.

InMed Pharmaceuticals Stock Performance

INM traded up $0.07 during trading on Wednesday, reaching $3.15. 145,681 shares of the company’s stock were exchanged, compared to its average volume of 1,024,060. InMed Pharmaceuticals has a fifty-two week low of $2.41 and a fifty-two week high of $15.70. The company has a quick ratio of 4.22, a current ratio of 5.07 and a debt-to-equity ratio of 0.08. The business has a 50 day moving average price of $4.37 and a 200 day moving average price of $4.74. The company has a market capitalization of $2.27 million, a P/E ratio of -0.23 and a beta of 0.19.

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.