InMed Pharmaceuticals Inc. (NASDAQ:INM) Short Interest Up 1,125.9% in January

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

InMed Pharmaceuticals Stock Performance

INM opened at $3.20 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 4.22 and a current ratio of 5.07. The company’s 50-day simple moving average is $4.35 and its two-hundred day simple moving average is $4.73. InMed Pharmaceuticals has a 52-week low of $2.41 and a 52-week high of $15.70.

InMed Pharmaceuticals (NASDAQ:INM) last announced its earnings results on Wednesday, February 12th. The company reported ($3.64) EPS for the quarter. InMed Pharmaceuticals had a negative net margin of 137.41% and a negative return on equity of 65.74%.

InMed Pharmaceuticals Company Profile

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.