Key Points
- Adar1 Capital Management increased its InMed Pharmaceuticals position by purchasing 8,307 shares at $1.33 each, bringing its holdings to 916,839 shares. The firm also made several additional purchases in September and October.
- InMed shares opened at $1.33, with a market capitalization of approximately $4.4 million and a 52-week range of $0.57 to $2.50. The company most recently reported a quarterly loss of $1.43 per share.
- Analyst sentiment remains negative: Weiss Ratings downgraded the stock to “sell,” and the sole analyst rating tracked by MarketBeat gives InMed an average rating of “Sell.”
InMed Pharmaceuticals Inc. (NASDAQ:INM - Get Free Report) major shareholder Adar1 Capital Management, Llc purchased 8,307 shares of the firm's stock in a transaction that occurred on Friday, October 2nd. The shares were acquired at an average cost of $1.33 per share, with a total value of $11,048.31. Following the completion of the transaction, the insider owned 916,839 shares in the company, valued at $1,219,395.87. This trade represents a 0.91% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible 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.
Adar1 Capital Management, Llc also recently made the following trade(s):
- On Monday, October 5th, Adar1 Capital Management, Llc purchased 18,182 shares of InMed Pharmaceuticals stock. The stock was bought at an average price of $1.33 per share, with a total value of $24,182.06.
- On Thursday, October 1st, Adar1 Capital Management, Llc acquired 16,431 shares of InMed Pharmaceuticals stock. The stock was bought at an average cost of $1.33 per share, for a total transaction of $21,853.23.
- On Monday, September 14th, Adar1 Capital Management, Llc bought 28,505 shares of InMed Pharmaceuticals stock. The stock was bought at an average cost of $1.29 per share, with a total value of $36,771.45.
- On Wednesday, September 16th, Adar1 Capital Management, Llc bought 8,340 shares of InMed Pharmaceuticals stock. The stock was bought at an average price of $1.29 per share, with a total value of $10,758.60.
- On Tuesday, September 15th, Adar1 Capital Management, Llc bought 54,256 shares of InMed Pharmaceuticals stock. The shares were bought at an average price of $1.30 per share, for a total transaction of $70,532.80.
InMed Pharmaceuticals Stock Performance
InMed Pharmaceuticals stock opened at $1.33 on Tuesday. The stock's 50 day moving average price is $1.41 and its 200 day moving average price is $1.26. The firm has a market capitalization of $4.40 million, a PE ratio of -0.81 and a beta of 0.93. InMed Pharmaceuticals Inc. has a one year low of $0.57 and a one year high of $2.50.
InMed Pharmaceuticals (NASDAQ:INM - Get Free Report) last released its quarterly earnings results on Wednesday, September 9th. The company reported ($1.43) earnings per share for the quarter.
Analysts Set New Price Targets
Separately, Weiss Ratings downgraded shares of InMed Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, September 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of "Sell".
View Our Latest Stock Analysis on InMed Pharmaceuticals
Institutional Investors Weigh In On InMed Pharmaceuticals
A hedge fund recently bought a new position in InMed Pharmaceuticals stock. Montanova Capital LLC bought a new stake in InMed Pharmaceuticals Inc. (NASDAQ:INM - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 100,000 shares of the company's stock, valued at approximately $155,000. Montanova Capital LLC owned approximately 3.02% of InMed Pharmaceuticals as of its most recent SEC filing. Institutional investors and hedge funds own 20.12% of the company's stock.
InMed Pharmaceuticals Company Profile
(
Get Free Report)
InMed Pharmaceuticals Inc is a biopharmaceutical company focused on the discovery and development of pharmaceutical products based on rare cannabinoids. The company combines cannabinoid science with drug-development expertise to investigate potential treatments for diseases with significant unmet medical needs.
Its research pipeline has included INM-901, an investigational rare-cannabinoid therapy being developed for Alzheimer's disease, as well as earlier programs targeting conditions such as epidermolysis bullosa and glaucoma.
Further Reading
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