InMed Pharmaceuticals Inc. [INM] fell -73.13% so far this year. What now?

InMed Pharmaceuticals Inc. [NASDAQ: INM] price surged by 9.90 percent to reach at $0.03. The company report on August 23, 2022 that InMed Announces Share Consolidation to Meet Nasdaq Listing Criteria.

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InMed Pharmaceuticals Inc. (“InMed” or the “Company”) (Nasdaq: INM), a leader in the research, development, manufacturing and commercialization of rare cannabinoids, today announces, pursuant to a directors’ resolution, InMed will be consolidating all of its issued and outstanding share capital on the basis of one (1) post‐consolidation share for each twenty five (25) pre‐consolidation common shares of the Company (the “Consolidation”) in order to regain compliance with all of Nasdaq’s continued listing requirements.

The Consolidation will result in the number of issued and outstanding common shares of the Company being reduced from 18,014,937 to approximately 720,597 common shares on a non-diluted basis and each shareholder will hold the same percentage of common shares outstanding immediately after the Consolidation as such shareholder held immediately prior to the Consolidation.

A sum of 7341342 shares traded at recent session while its average daily volume was at 348.14K shares. InMed Pharmaceuticals Inc. shares reached a high of $10.75 and dropped to a low of $8.185 until finishing in the latest session at $0.35.

The one-year INM stock forecast points to a potential upside of 89.71. The average equity rating for INM stock is currently 3.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on InMed Pharmaceuticals Inc. [INM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for INM shares is $3.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on INM stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for InMed Pharmaceuticals Inc. is set at 0.05, with the Price to Sales ratio for INM stock in the period of the last 12 months amounting to 8.67. The Price to Book ratio for the last quarter was 0.24.

INM Stock Performance Analysis:

InMed Pharmaceuticals Inc. [INM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 46.67. With this latest performance, INM shares dropped by -14.81% in over the last four-week period, additionally sinking by -54.87% over the last 6 months – not to mention a drop of -84.70% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for INM stock in for the last two-week period is set at 51.23, with the RSI for the last a single of trading hit 58.02, and the three-weeks RSI is set at 46.75 for InMed Pharmaceuticals Inc. [INM]. The present Moving Average for the last 50 days of trading for this stock 0.3895, while it was recorded at 0.2947 for the last single week of trading, and 0.8825 for the last 200 days.

Insight into InMed Pharmaceuticals Inc. Fundamentals:

Return on Total Capital for INM is now -146.59, given the latest momentum, and Return on Invested Capital for the company is -152.17. Return on Equity for this stock declined to -157.30, with Return on Assets sitting at -117.94. When it comes to the capital structure of this company, InMed Pharmaceuticals Inc. [INM] has a Total Debt to Total Equity ratio set at 3.66. Additionally, INM Total Debt to Total Capital is recorded at 3.53, with Total Debt to Total Assets ending up at 2.76. Long-Term Debt to Equity for the company is recorded at 2.57, with the Long-Term Debt to Total Capital now at 2.48.

InMed Pharmaceuticals Inc. [INM] Insider Position Details

There are presently around $0 million, or 9.05% of INM stock, in the hands of institutional investors. The top three institutional holders of INM stocks are: ARMISTICE CAPITAL, LLC with ownership of 956,118, which is approximately New of the company’s market cap and around 0.78% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 49,700 shares of the stock with an approximate value of $17000.0 in INM stocks shares; and TWO SIGMA ADVISERS, LP, currently with $17000.0 in INM stock with ownership of nearly -68.75% of the company’s market capitalization.

Positions in InMed Pharmaceuticals Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 6 institutional holders increased their position in InMed Pharmaceuticals Inc. [NASDAQ:INM] by around 974,437 shares. Additionally, 6 investors decreased positions by around 239,859 shares, while 10 investors held positions by with 119,233 shares. The mentioned changes placed institutional holdings at 1,095,063 shares, according to the latest SEC report filing. INM stock had 5 new institutional investments in for a total of 969,937 shares, while 4 institutional investors sold positions of 133,489 shares during the same period.


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