InMed Pharmaceuticals Inc (NASDAQ: INM)’s stock price has soared by 8.72 in relation to previous closing price of 0.23. Nevertheless, the company has seen a gain of 18.10% in its stock price over the last five trading days. newsfilecorp.com reported 2024-09-30 that Advances INM-901 program targeting several biological pathways associated with Alzheimer’s disease Further develops INM-089 demonstrating neuroprotection in the treatment of dry Age-related Macular Degeneration $4.6M revenues in fiscal year 2024, representing a 11% increase over the previous fiscal year Vancouver, British Columbia–(Newsfile Corp. – September 30, 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 financial results for the fiscal year ending June 30, 2024 and provided a business update on the pharmaceutical drug development programs as well as the commercial segment for its wholly-owned subsidiary, BayMedica, LLC (“BayMedica”). The Company’s full financial statements and related MD&A for the fiscal year ended June 30, 2024, are available at www.inmedpharma.com and at www.sedar.com.
Is It Worth Investing in InMed Pharmaceuticals Inc (NASDAQ: INM) Right Now?
The 36-month beta value for INM is at 0.74. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for INM is 3.29M, and currently, shorts hold a 2.83% of that float. The average trading volume for INM on October 18, 2024 was 6.82M shares.
INM’s Market Performance
The stock of InMed Pharmaceuticals Inc (INM) has seen a 18.10% increase in the past week, with a -10.89% drop in the past month, and a -6.31% fall in the past quarter. The volatility ratio for the week is 10.43%, and the volatility levels for the past 30 days are at 8.45% for INM. The simple moving average for the past 20 days is 10.99% for INM’s stock, with a -16.16% simple moving average for the past 200 days.
INM Trading at -2.40% 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 -88.08% of loss for the given period.
Volatility was left at 8.45%, however, over the last 30 days, the volatility rate increased by 10.43%, as shares sank -9.19% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +86.05% upper at present.
During the last 5 trading sessions, INM rose by +18.10%, which changed the moving average for the period of 200-days by -36.41% in comparison to the 20-day moving average, which settled at $0.2234. In addition, InMed Pharmaceuticals Inc saw -40.38% 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:
- -0.98 for the present operating margin
- 0.14 for the gross margin
The net margin for InMed Pharmaceuticals Inc stands at -0.0. The total capital return value is set at -0.8. Equity return is now at value -72.08, with -59.20 for asset returns.
Based on InMed Pharmaceuticals Inc (INM), the company’s capital structure generated 0.07 points at debt to capital in total, while cash flow to debt ratio is standing at -0.01.
Currently, EBITDA for the company is -7.45 billion with net debt to EBITDA at 0.8. When we switch over and look at the enterprise to sales, we see a ratio of -0.73. The receivables turnover for the company is 22.94for trailing twelve months and the total asset turnover is 0.68. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.41.
Conclusion
In conclusion, InMed Pharmaceuticals Inc (INM) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others 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.
