Vivo Opportunity, Llc Acquires 22,848 Shares of InMed Pharmaceuticals (NASDAQ:INM) Stock

InMed Pharmaceuticals Inc. (NASDAQ:INM) major shareholder Vivo Opportunity, Llc acquired 22,848 shares of InMed Pharmaceuticals stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average price of $1.52 per share, for a total transaction of $34,728.96. Following the completion of the transaction, the insider directly owned 625,766 shares in the company, valued at approximately $951,164.32. The trade was a 3.79% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, June 8th, Vivo Opportunity, Llc acquired 32,500 shares of InMed Pharmaceuticals stock. The shares were purchased at an average price of $1.52 per share, for a total transaction of $49,400.00.
• On Friday, June 5th, Vivo Opportunity, Llc purchased 55,011 shares of InMed Pharmaceuticals stock. The shares were bought at an average price of $1.57 per share, for a total transaction of $86,367.27.
• On Thursday, June 4th, Vivo Opportunity, Llc purchased 6,743 shares of InMed Pharmaceuticals stock. The shares were bought at an average price of $1.57 per share, for a total transaction of $10,586.51.
• On Wednesday, June 3rd, Vivo Opportunity, Llc purchased 7,783 shares of InMed Pharmaceuticals stock. The shares were bought at an average price of $1.55 per share, for a total transaction of $12,063.65.
• On Monday, June 1st, Vivo Opportunity, Llc purchased 16,336 shares of InMed Pharmaceuticals stock. The shares were bought at an average price of $1.55 per share, for a total transaction of $25,320.80.
• On Friday, May 29th, Vivo Opportunity, Llc purchased 17,796 shares of InMed Pharmaceuticals stock. The shares were bought at an average price of $1.57 per share, for a total transaction of $27,939.72.
• On Thursday, May 21st, Vivo Opportunity, Llc purchased 34,000 shares of InMed Pharmaceuticals stock. The shares were bought at an average price of $1.69 per share, for a total transaction of $57,460.00.
• On Wednesday, May 20th, Vivo Opportunity, Llc purchased 56,210 shares of InMed Pharmaceuticals stock. The shares were bought at an average price of $1.56 per share, for a total transaction of $87,687.60.

InMed Pharmaceuticals Price Performance

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

InMed Pharmaceuticals (NASDAQ:INM) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping 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 Ratings Changes

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

Institutional Investors Weigh In On InMed Pharmaceuticals

A hedge fund recently bought a new stake in InMed Pharmaceuticals stock. Virtu Financial LLC acquired a new position in InMed Pharmaceuticals Inc. (NASDAQ:INM) during the third quarter, according to its most recent filing with the 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 as of its most recent filing with the SEC. 20.12% of the stock is currently owned by hedge funds and other institutional investors.

InMed Pharmaceuticals News Summary

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.