Vivo Opportunity, Llc Buys 32,500 Shares of InMed Pharmaceuticals (NASDAQ:INM) Stock

InMed Pharmaceuticals Inc. (NASDAQ:INM) major shareholder Vivo Opportunity, Llc bought 32,500 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was purchased at an average price of $1.52 per share, with a total value of $49,400.00. Following the completion of the purchase, the insider directly owned 718,444 shares of the company’s stock, valued at $1,092,034.88. This represents a 4.74% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 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 Friday, June 5th, Vivo Opportunity, Llc bought 55,011 shares of InMed Pharmaceuticals stock. The stock was purchased at an average price of $1.57 per share, with a total value of $86,367.27.
• On Thursday, June 4th, Vivo Opportunity, Llc bought 6,743 shares of InMed Pharmaceuticals stock. The stock was purchased at an average price of $1.57 per share, with a total value of $10,586.51.
• On Wednesday, June 3rd, Vivo Opportunity, Llc bought 7,783 shares of InMed Pharmaceuticals stock. The stock was purchased at an average price 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 stock was purchased at an average price of $1.52 per share, with a total value of $34,728.96.
• On Monday, June 1st, Vivo Opportunity, Llc purchased 16,336 shares of InMed Pharmaceuticals stock. The stock was 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 stock was 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 stock was 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 stock was bought at an average price of $1.56 per share, for a total transaction of $87,687.60.

InMed Pharmaceuticals Price Performance

Shares of NASDAQ:INM opened at $1.58 on Friday. The business’s fifty day moving average price is $1.02 and its two-hundred day moving average price is $1.04. InMed Pharmaceuticals Inc. has a fifty-two week low of $0.58 and a fifty-two week high of $5.50. The stock has a market capitalization of $5.23 million, a price-to-earnings 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 for the quarter, beating 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%.

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 Ratings Changes

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

Institutional Trading of InMed Pharmaceuticals

A hedge fund recently bought a new stake in InMed Pharmaceuticals stock. Virtu Financial LLC bought 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 & Exchange Commission. The institutional investor bought 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 Securities & Exchange Commission. Institutional investors and hedge funds own 20.12% of the company’s stock.

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.