Key Points
- Adar1 Capital Management increased its InMed Pharmaceuticals stake by purchasing 8,021 shares at an average of $1.33, bringing its holdings to 954,509 shares valued at approximately $1.27 million.
- The shareholder has made a series of additional purchases since September, while Montanova Capital recently acquired a 100,000-share stake; institutional investors collectively own 20.12% of InMed.
- InMed shares opened at $1.33 and have a $4.42 million market capitalization. The stock carries an average “Sell” rating, and the company reported quarterly EPS of negative $1.43.
InMed Pharmaceuticals Inc. (NASDAQ:INM - Get Free Report) major shareholder Adar1 Capital Management, Llc acquired 8,021 shares of the firm's stock in a transaction dated Wednesday, October 14th. The stock was bought at an average price of $1.33 per share, for a total transaction of $10,667.93. Following the completion of the acquisition, the insider owned 954,509 shares in the company, valued at approximately $1,269,496.97. The trade was a 0.85% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Adar1 Capital Management, Llc also recently made the following trade(s):
- On Thursday, October 15th, Adar1 Capital Management, Llc bought 984 shares of InMed Pharmaceuticals stock. The stock was bought at an average price of $1.32 per share, with a total value of $1,298.88.
- On Tuesday, October 13th, Adar1 Capital Management, Llc bought 564 shares of InMed Pharmaceuticals stock. The stock was bought at an average price of $1.33 per share, with a total value of $750.12.
- On Thursday, October 8th, Adar1 Capital Management, Llc bought 2,256 shares of InMed Pharmaceuticals stock. The stock was bought at an average price of $1.33 per share, with a total value of $3,000.48.
- On Wednesday, October 7th, Adar1 Capital Management, Llc bought 3,046 shares of InMed Pharmaceuticals stock. The stock was purchased at an average cost of $1.33 per share, for a total transaction of $4,051.18.
- On Tuesday, October 6th, Adar1 Capital Management, Llc bought 5,601 shares of InMed Pharmaceuticals stock. The stock was purchased at an average cost of $1.33 per share, for a total transaction of $7,449.33.
- On Monday, October 5th, Adar1 Capital Management, Llc purchased 18,182 shares of InMed Pharmaceuticals stock. The shares were purchased at an average price of $1.33 per share, for a total transaction of $24,182.06.
- On Friday, October 2nd, Adar1 Capital Management, Llc purchased 8,307 shares of InMed Pharmaceuticals stock. The shares were purchased at an average price of $1.33 per share, for a total transaction of $11,048.31.
- On Thursday, October 1st, Adar1 Capital Management, Llc purchased 16,431 shares of InMed Pharmaceuticals stock. The shares were purchased at an average price of $1.33 per share, with a total value of $21,853.23.
- On Monday, September 14th, Adar1 Capital Management, Llc purchased 28,505 shares of InMed Pharmaceuticals stock. The shares were purchased at an average price of $1.29 per share, with a total value of $36,771.45.
- On Wednesday, September 16th, Adar1 Capital Management, Llc acquired 8,340 shares of InMed Pharmaceuticals stock. The stock was purchased at an average cost of $1.29 per share, with a total value of $10,758.60.
InMed Pharmaceuticals Trading Up 1.8%
Shares of NASDAQ INM opened at $1.33 on Friday. InMed Pharmaceuticals Inc. has a twelve month low of $0.57 and a twelve month high of $2.33. The stock has a fifty day simple moving average of $1.38 and a 200-day simple moving average of $1.30. The stock has a market capitalization of $4.42 million, a PE ratio of -0.81 and a beta of 0.93.
InMed Pharmaceuticals (NASDAQ:INM - Get Free Report) last posted its quarterly earnings data on Wednesday, September 9th. The company reported ($1.43) earnings per share (EPS) for the quarter.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings lowered shares of InMed Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, September 9th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the stock presently has an average rating of "Sell".
Read Our Latest Stock Analysis on INM
Institutional Trading of InMed Pharmaceuticals
A hedge fund recently bought a new stake in InMed Pharmaceuticals stock. Montanova Capital LLC bought a new stake in InMed Pharmaceuticals Inc. (NASDAQ:INM - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 100,000 shares of the company's stock, valued at approximately $155,000. Montanova Capital LLC owned 3.02% of InMed Pharmaceuticals at the end of the most recent quarter. Institutional investors own 20.12% of the company's stock.
About InMed Pharmaceuticals
(
Get Free Report)
InMed Pharmaceuticals Inc is a biopharmaceutical company focused on the discovery and development of therapies based on rare cannabinoids. The company is developing pharmaceutical candidates intended to address diseases with significant unmet medical needs, using its proprietary IntegraSyn technology to support the production and formulation of cannabinoids.
InMed's pharmaceutical pipeline has included INM-755, a topical cannabinol-based candidate being investigated for epidermolysis bullosa simplex, a rare genetic skin disorder.
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