Vivo Opportunity, Llc Buys 55,011 Shares of InMed Pharmaceuticals (NASDAQ:INM) Stock

InMed Pharmaceuticals Inc. (NASDAQ:INM) major shareholder Vivo Opportunity, Llc acquired 55,011 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $1.57 per share, with a total value of $86,367.27. Following the completion of the purchase, the insider owned 688,926 shares in the company, valued at $1,081,613.82. The trade was a 8.68% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 bought at an average price of $1.52 per share, with a total value of $49,400.00.
• On Thursday, June 4th, Vivo Opportunity, Llc acquired 6,743 shares of InMed Pharmaceuticals stock. The shares were bought at an average price 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 shares were bought at an average price 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 shares were bought at an average price of $1.52 per share, with a total value of $34,728.96.
• On Monday, June 1st, Vivo Opportunity, Llc acquired 16,336 shares of InMed Pharmaceuticals stock. The shares were bought at an average price of $1.55 per share, with a total value of $25,320.80.
• On Friday, May 29th, Vivo Opportunity, Llc acquired 17,796 shares of InMed Pharmaceuticals stock. The shares were bought at an average price 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 shares were bought at an average price of $1.69 per share, with a total value of $57,460.00.
• On Wednesday, May 20th, Vivo Opportunity, Llc purchased 56,210 shares of InMed Pharmaceuticals stock. The shares were acquired at an average price of $1.56 per share, with a total value of $87,687.60.

InMed Pharmaceuticals Stock Performance

Shares of 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 stock has a fifty day moving average of $1.02 and a two-hundred day moving average of $1.04. The firm has a market capitalization of $5.23 million, a PE ratio of -0.55 and a beta of 0.98.

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

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in InMed Pharmaceuticals stock. Virtu Financial LLC purchased a new position in shares of InMed Pharmaceuticals Inc. (NASDAQ:INM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,369 shares of the company’s stock, valued at approximately $45,000. Virtu Financial LLC owned 0.73% of InMed Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission. 20.12% of the stock is owned by hedge funds and other institutional investors.

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.