InMed Pharmaceuticals (NASDAQ:INM) Trading Up 1.5% – What’s Next?

InMed Pharmaceuticals Inc. (NASDAQ:INM) rose 1.5% on Friday . The stock traded as high as $1.35 and last traded at $1.34. Approximately 59,599 shares changed hands during trading, a decline of 93% from the average daily volume of 852,925 shares. The stock had previously closed at $1.32.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of InMed Pharmaceuticals in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

InMed Pharmaceuticals Stock Performance

The company’s 50-day simple moving average is $1.90 and its 200-day simple moving average is $2.36. The stock has a market capitalization of $3.75 million, a price-to-earnings ratio of -0.22 and a beta of 0.29. The company has a current ratio of 6.95, a quick ratio of 6.37 and a debt-to-equity ratio of 0.02.

InMed Pharmaceuticals (NASDAQ:INM) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.44) earnings per share for the quarter. The business had revenue of $1.12 million during the quarter. InMed Pharmaceuticals had a negative return on equity of 85.91% and a negative net margin of 171.13%.

Institutional Investors Weigh In On InMed Pharmaceuticals

An institutional investor recently bought a new position in InMed Pharmaceuticals stock. Virtu Financial LLC acquired a new position in shares of InMed Pharmaceuticals Inc. (NASDAQ:INM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,369 shares of the company’s stock, valued at approximately $45,000. Virtu Financial LLC owned about 0.73% of InMed Pharmaceuticals at the end of the most recent reporting period. Institutional investors own 20.12% of the company’s stock.

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.