Vivo Opportunity, Llc Acquires 56,210 Shares of InMed Pharmaceuticals (NASDAQ:INM) Stock

InMed Pharmaceuticals Inc. (NASDAQ:INM) major shareholder Vivo Opportunity, Llc purchased 56,210 shares of the stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $1.56 per share, with a total value of $87,687.60. Following the acquisition, the insider directly owned 543,129 shares in the company, valued at $847,281.24. This trade represents a 11.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Vivo Opportunity, Llc also recently made the following trade(s):

• On Monday, June 8th, Vivo Opportunity, Llc purchased 32,500 shares of InMed Pharmaceuticals stock. The stock was acquired at an average price of $1.52 per share, with a total value of $49,400.00.
• On Friday, June 5th, Vivo Opportunity, Llc purchased 55,011 shares of InMed Pharmaceuticals stock. The stock was acquired at an average price of $1.57 per share, with a total value of $86,367.27.
• On Thursday, June 4th, Vivo Opportunity, Llc purchased 6,743 shares of InMed Pharmaceuticals stock. The stock was acquired at an average price of $1.57 per share, with a total value of $10,586.51.
• On Wednesday, June 3rd, Vivo Opportunity, Llc purchased 7,783 shares of InMed Pharmaceuticals stock. The stock was acquired at an average price of $1.55 per share, with a total value of $12,063.65.
• On Tuesday, June 2nd, Vivo Opportunity, Llc purchased 22,848 shares of InMed Pharmaceuticals stock. The stock was acquired at an average price of $1.52 per share, with a total value of $34,728.96.
• On Monday, June 1st, Vivo Opportunity, Llc purchased 16,336 shares of InMed Pharmaceuticals stock. The stock was acquired at an average price of $1.55 per share, with a total value of $25,320.80.
• On Friday, May 29th, Vivo Opportunity, Llc purchased 17,796 shares of InMed Pharmaceuticals stock. The stock was acquired at an average price of $1.57 per share, with a total value of $27,939.72.
• On Thursday, May 21st, Vivo Opportunity, Llc purchased 34,000 shares of InMed Pharmaceuticals stock. The stock was acquired at an average price of $1.69 per share, with a total value of $57,460.00.

InMed Pharmaceuticals Price Performance

INM opened at $1.58 on Friday. The stock has a market capitalization of $5.23 million, a price-to-earnings ratio of -0.55 and a beta of 0.98. The business has a 50-day moving average of $1.02 and a two-hundred day moving average of $1.04. InMed Pharmaceuticals Inc. has a 12 month low of $0.58 and a 12 month high of $5.50.

InMed Pharmaceuticals (NASDAQ:INM) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($94.44) by $93.75. InMed Pharmaceuticals had a negative return on equity of 80.85% and a negative net margin of 132.87%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of InMed Pharmaceuticals in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On InMed Pharmaceuticals

A hedge fund recently bought a new stake in InMed Pharmaceuticals stock. Sabby Management LLC acquired a new stake in InMed Pharmaceuticals Inc. (NASDAQ:INM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 219,998 shares of the company’s stock, valued at approximately $482,000. InMed Pharmaceuticals makes up approximately 0.6% of Sabby Management LLC’s investment portfolio, making the stock its 12th largest holding. Sabby Management LLC owned approximately 7.86% of InMed Pharmaceuticals as of its most recent SEC filing. Institutional investors own 20.12% of the company’s stock.

Trending Headlines about InMed Pharmaceuticals

Here are the key news stories impacting InMed Pharmaceuticals this week:

• Positive Sentiment: Major shareholder Vivo Opportunity, LLC continued buying INM shares across several transactions in late May and early June, including the latest 6,743-share purchase. Repeated insider accumulation often supports investor optimism. Article Title
• Neutral Sentiment: INM remains a small-cap biotech with weak fundamentals, including negative earnings and negative net margin, so the stock’s move is still highly speculative. Stock Quote
• Negative Sentiment: Despite the insider buying, Wall Street sentiment is still cautious, with the stock carrying an overall “Sell” rating, which may cap enthusiasm. Weiss Ratings

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.