The stock price of InMed Pharmaceuticals Inc (NASDAQ: INM) has dropped by -12.16 compared to previous close of 0.26. Despite this, the company has seen a fall of -7.51% in its stock price over the last five trading days. newsfilecorp.com reported 2024-09-20 that Vancouver, British Columbia–(Newsfile Corp. – September 20, 2024) – InMed Pharmaceuticals Inc. (NASDAQ: INM) (“InMed” or the “Company”), a pharmaceutical company focused on developing a pipeline of proprietary small molecule drug candidates for diseases with high unmet medical needs, today announced that it has timely requested a hearing (the “Hearing”) before the Nasdaq Listing Qualifications Panel (the “Panel”) to appeal (the “Appeal”) the determination by the Listing Qualifications Department (the “Nasdaq Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”), and present its plan to regain and sustain compliance with Nasdaq’s minimum bid price requirement of at least $1.00 for the continued listing on the Nasdaq Capital Market, as set forth in Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Rule”). Nasdaq has notified the Company via electronic mail that the Hearing has been scheduled for October 31, 2024.
Is It Worth Investing in InMed Pharmaceuticals Inc (NASDAQ: INM) Right Now?
The stock has a 36-month beta value of 0.75. Opinions on the stock are mixed, with 0 analysts rating it as a “buy,” 0 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for INM is 3.29M, and at present, short sellers hold a 10.47% of that float. On September 24, 2024, the average trading volume of INM was 7.03M shares.
INM’s Market Performance
INM’s stock has seen a -7.51% decrease for the week, with a -43.45% drop in the past month and a -16.51% fall in the past quarter. The volatility ratio for the week is 7.86%, and the volatility levels for the past 30 days are at 13.88% for InMed Pharmaceuticals Inc The simple moving average for the past 20 days is -23.56% for INM’s stock, with a -25.01% simple moving average for the past 200 days.
INM Trading at -9.54% from the 50-Day Moving Average
After a stumble in the market that brought INM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -88.81% of loss for the given period.
Volatility was left at 13.88%, however, over the last 30 days, the volatility rate increased by 7.86%, as shares sank -41.49% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -12.19% lower at present.
During the last 5 trading sessions, INM fell by -7.51%, which changed the moving average for the period of 200-days by -43.81% in comparison to the 20-day moving average, which settled at $0.2962. In addition, InMed Pharmaceuticals Inc saw -44.06% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at INM starting from MANCINI ALEXANDRA DIANE JANET, who sale 240 shares at the price of $0.18 back on Jul 31 ’24. After this action, MANCINI ALEXANDRA DIANE JANET now owns 0 shares of InMed Pharmaceuticals Inc, valued at $42 using the latest closing price.
HULL ANDREW, the Director of InMed Pharmaceuticals Inc, purchase 37,500 shares at $0.39 during a trade that took place back on Feb 21 ’24, which means that HULL ANDREW is holding 38,258 shares at $14,625 based on the most recent closing price.
Stock Fundamentals for INM
Current profitability levels for the company are sitting at:
- -1531.59 for the present operating margin
- 0.32 for the gross margin
The net margin for InMed Pharmaceuticals Inc stands at -0.95. The total capital return value is set at -830.33. Equity return is now at value -51.73, with -43.26 for asset returns.
Based on InMed Pharmaceuticals Inc (INM), the company’s capital structure generated 0.09 points at debt to capital in total, while cash flow to debt ratio is standing at -6.21. The debt to equity ratio resting at 0.1. The interest coverage ratio of the stock is -96.15.
Currently, EBITDA for the company is -7.73 million with net debt to EBITDA at 1.06. When we switch over and look at the enterprise to sales, we see a ratio of -0.69. The receivables turnover for the company is 30.88for trailing twelve months and the total asset turnover is 0.48. The liquidity ratio also appears to be rather interesting for investors as it stands at 6.58.
Conclusion
To sum up, InMed Pharmaceuticals Inc (INM) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
