InMed Pharmaceuticals Inc. [INM] Is Currently -1.36 below its 200 Period Moving Avg: What Does This Mean?

InMed Pharmaceuticals Inc. [NASDAQ: INM] plunged by -$0.03 during the normal trading session on Wednesday and reaching a high of $3.03 during the day while it closed the day at $2.18. The company report on December 15, 2022 that InMed Announces Results of 2022 Annual General Meeting.

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InMed Pharmaceuticals Inc. (“InMed” or the “Company”) (Nasdaq: INM), a leader in the pharmaceutical research, development and manufacturing of rare cannabinoids and cannabinoid analogs, today confirmed that, at its annual general meeting of shareholders held on December 15, 2022 (the “Meeting”), all of the matters put forward before shareholders for consideration and approval as set out in InMed’s notice of meeting and management information circular, dated October 28, 2022, were approved by the shareholders. In particular, shareholders approved the election of all director nominees to hold office until the next annual meeting of shareholders or until their successors are elected or appointed. Results of the vote for the election of directors at the Meeting are set out as follows:.

InMed Pharmaceuticals Inc. stock has also gained 61.48% of its value over the past 7 days. However, INM stock has declined by -69.76% in the 3 months of the year. Over the past six months meanwhile, it has lost -82.20% and gained 7.92% year-on date.

The market cap for INM stock reached $1.83 million, with 1.09 million shares outstanding and 1.08 million shares in the current float. Compared to the average trading volume of 747.80K shares, INM reached a trading volume of 10719020 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about InMed Pharmaceuticals Inc. [INM]:

The Average True Range (ATR) for InMed Pharmaceuticals Inc. is set at 0.39, with the Price to Sales ratio for INM stock in the period of the last 12 months amounting to 1.31. The Price to Book ratio for the last quarter was 0.17, with the Price to Cash per share for the same quarter was set at 11.19.

INM stock trade performance evaluation

InMed Pharmaceuticals Inc. [INM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 61.48. With this latest performance, INM shares dropped by -20.44% in over the last four-week period, additionally sinking by -82.20% over the last 6 months – not to mention a drop of -93.59% 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 51.25, with the RSI for the last a single of trading hit 62.06, and the three-weeks RSI is set at 45.36 for InMed Pharmaceuticals Inc. [INM]. The present Moving Average for the last 50 days of trading for this stock 2.50, while it was recorded at 1.88 for the last single week of trading, and 11.01 for the last 200 days.

InMed Pharmaceuticals Inc. [INM]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and InMed Pharmaceuticals Inc. [INM] shares currently have an operating margin of -1265.95 and a Gross Margin at +6.27. InMed Pharmaceuticals Inc.’s Net Margin is presently recorded at -1707.32.

Return on Equity for this stock declined to -226.07, with Return on Assets sitting at -164.83.

InMed Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.00 and a Current Ratio set at 3.50.

InMed Pharmaceuticals Inc. [INM]: Insider Ownership positions

There are presently around $0 million, or 12.30% of INM stock, in the hands of institutional investors. The top three institutional holders of INM stocks are: ARMISTICE CAPITAL, LLC with ownership of 90,000, which is approximately 135.325% of the company’s market cap and around 0.47% of the total institutional ownership; SABBY MANAGEMENT, LLC, holding 15,284 shares of the stock with an approximate value of $33000.0 in INM stocks shares; and MILLENNIUM MANAGEMENT LLC, currently with $30000.0 in INM stock with ownership of nearly New of the company’s market capitalization.

Positions in InMed Pharmaceuticals Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 8 institutional holders increased their position in InMed Pharmaceuticals Inc. [NASDAQ:INM] by around 94,757 shares. Additionally, 9 investors decreased positions by around 5,432 shares, while 3 investors held positions by with 32,905 shares. The mentioned changes placed institutional holdings at 133,094 shares, according to the latest SEC report filing. INM stock had 5 new institutional investments in for a total of 42,840 shares, while 6 institutional investors sold positions of 5,429 shares during the same period.

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