Vivo Opportunity, Llc Purchases 16,336 Shares of InMed Pharmaceuticals (NASDAQ:INM) Stock

InMed Pharmaceuticals Inc. (NASDAQ:INM) major shareholder Vivo Opportunity, Llc acquired 16,336 shares of InMed Pharmaceuticals stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average cost of $1.55 per share, with a total value of $25,320.80. Following the purchase, the insider owned 605,013 shares in the company, valued at $937,770.15. The trade was a 2.78% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares 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 stock was 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 acquired 55,011 shares of InMed Pharmaceuticals stock. The stock was acquired at an average cost of $1.57 per share, with a total value of $86,367.27.
• On Thursday, June 4th, Vivo Opportunity, Llc acquired 6,743 shares of InMed Pharmaceuticals stock. The stock was acquired at an average cost of $1.57 per share, with a total value of $10,586.51.
• On Wednesday, June 3rd, Vivo Opportunity, Llc acquired 7,783 shares of InMed Pharmaceuticals stock. The stock was acquired at an average cost of $1.55 per share, with a total value of $12,063.65.
• On Tuesday, June 2nd, Vivo Opportunity, Llc acquired 22,848 shares of InMed Pharmaceuticals stock. The stock was acquired at an average cost of $1.52 per share, with a total value of $34,728.96.
• On Friday, May 29th, Vivo Opportunity, Llc acquired 17,796 shares of InMed Pharmaceuticals stock. The stock was acquired at an average cost of $1.57 per share, with a total value of $27,939.72.
• On Thursday, May 21st, Vivo Opportunity, Llc acquired 34,000 shares of InMed Pharmaceuticals stock. The stock was acquired at an average cost of $1.69 per share, with a total value of $57,460.00.
• On Wednesday, May 20th, Vivo Opportunity, Llc acquired 56,210 shares of InMed Pharmaceuticals stock. The stock was acquired at an average cost of $1.56 per share, with a total value of $87,687.60.

InMed Pharmaceuticals Trading Up 4.6%

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

InMed Pharmaceuticals (NASDAQ:INM) last released its earnings results on Wednesday, May 6th. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates 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 Inflows and Outflows

An institutional investor recently bought a new position in InMed Pharmaceuticals stock. Sabby Management LLC acquired a new position in shares of InMed Pharmaceuticals Inc. (NASDAQ:INM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 219,998 shares of the company’s stock, valued at approximately $482,000. InMed Pharmaceuticals accounts for about 0.6% of Sabby Management LLC’s investment 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 Securities and Exchange Commission. Institutional investors and hedge funds own 20.12% of the company’s stock.

Key Stories Impacting 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

Analyst Upgrades and Downgrades

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

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.