Vivo Opportunity, Llc Buys 6,743 Shares of InMed Pharmaceuticals (NASDAQ:INM) Stock

InMed Pharmaceuticals Inc. (NASDAQ:INM) major shareholder Vivo Opportunity, Llc purchased 6,743 shares of InMed Pharmaceuticals stock in a transaction on Thursday, June 4th. The shares were acquired at an average cost of $1.57 per share, with a total value of $10,586.51. Following the completion of the transaction, the insider directly owned 638,960 shares in the company, valued at $1,003,167.20. The trade was a 1.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large 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 shares were acquired at an average cost of $1.52 per share, with a total value of $49,400.00.
• On Friday, June 5th, Vivo Opportunity, Llc bought 55,011 shares of InMed Pharmaceuticals stock. The shares were purchased at an average cost of $1.57 per share, with a total value of $86,367.27.
• On Wednesday, June 3rd, Vivo Opportunity, Llc bought 7,783 shares of InMed Pharmaceuticals stock. The shares were purchased at an average cost of $1.55 per share, with a total value of $12,063.65.
• On Tuesday, June 2nd, Vivo Opportunity, Llc bought 22,848 shares of InMed Pharmaceuticals stock. The shares were purchased at an average cost of $1.52 per share, with a total value of $34,728.96.
• On Monday, June 1st, Vivo Opportunity, Llc bought 16,336 shares of InMed Pharmaceuticals stock. The shares were purchased at an average cost of $1.55 per share, with a total value of $25,320.80.
• On Friday, May 29th, Vivo Opportunity, Llc bought 17,796 shares of InMed Pharmaceuticals stock. The shares were purchased at an average cost of $1.57 per share, with a total value of $27,939.72.
• On Thursday, May 21st, Vivo Opportunity, Llc bought 34,000 shares of InMed Pharmaceuticals stock. The shares were purchased at an average cost of $1.69 per share, with a total value of $57,460.00.
• On Wednesday, May 20th, Vivo Opportunity, Llc bought 56,210 shares of InMed Pharmaceuticals stock. The shares were purchased at an average cost of $1.56 per share, with a total value of $87,687.60.

InMed Pharmaceuticals Price Performance

NASDAQ:INM opened at $1.58 on Friday. The firm has a market cap of $5.23 million, a price-to-earnings ratio of -0.55 and a beta of 0.98. The company has a 50 day moving average price of $1.02 and a 200-day moving average price of $1.04. InMed Pharmaceuticals Inc. has a 1-year low of $0.58 and a 1-year high of $5.50.

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

Institutional Investors Weigh In On InMed Pharmaceuticals

An institutional investor recently bought a new position in InMed Pharmaceuticals stock. Sabby Management LLC purchased a new stake in InMed Pharmaceuticals Inc. (NASDAQ:INM) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 219,998 shares of the company’s stock, valued at approximately $482,000. InMed Pharmaceuticals accounts for approximately 0.6% of Sabby Management LLC’s portfolio, making the stock its 12th biggest holding. Sabby Management LLC owned 7.86% of InMed Pharmaceuticals as of its most recent filing with the SEC. 20.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of InMed Pharmaceuticals in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, InMed Pharmaceuticals has a consensus rating of “Sell”.

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

InMed Pharmaceuticals Company Profile

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.