Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. InMed Pharmaceuticals Inc shares valued at $14,625 were purchased by HULL ANDREW on Feb 21 ’24. At $0.39 per share, HULL ANDREW acquired 37,500 shares. The insider’s holdings grew to 38,258 shares worth approximately $13007.720000000001 following the completion of this transaction.
Also, ADAMS ERIC A purchased 41,600 shares, netting a total of over 14,922 in proceeds. Following the buying of shares at $0.36 each, the insider now holds 43,959 shares.
Analyzing INM Stock Performance
During the last five days, there has been a drop of approximately -1.99%. Over the course of the year, InMed Pharmaceuticals Inc shares have dropped approximately -18.29%. Shares of the company reached a 52-week high of $0.4718 on 03/07/24 and a 52-week low of $0.3100 on 02/08/24. A 50-day SMA is recorded $0.3647, while a 200-day SMA reached $0.6043. Nevertheless, trading volume fell to 6.47 million shares from 0.1 million shares the previous day.
Support And Resistance Levels for InMed Pharmaceuticals Inc (INM)
According to the 24-hour chart, there is a support level at 0.2951, which, if violated, would cause prices to drop to 0.2503. In the upper region, resistance lies at 0.4201. The next price resistance is at 0.5003. RSI (Relative Strength Index) is 42.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0057, which suggests the price will decrease in the coming days. Percent R is at 92.48%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is InMed Pharmaceuticals Inc subject to short interest?
Stocks of InMed Pharmaceuticals Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by 81280.0 shares to 56970.0. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 0.14 million shares. A decline of -142.67% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 0.2 of the overall float, the days-to-cover ratio (short ratio) decline to 0.2.
