Psyence Biomedical Stock to Reverse Split on Tuesday, January 20th (NASDAQ:PBM)

Shares of Psyence Biomedical Ltd. (NASDAQ:PBM) are going to reverse split before the market opens on Tuesday, January 20th. The 1-6.25 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, January 19th.

Psyence Biomedical Stock Down 13.9%

PBM stock opened at $0.67 on Friday. The firm has a market cap of $1.25 million, a PE ratio of 0.17 and a beta of 0.32. The business has a 50 day moving average of $1.48 and a 200-day moving average of $3.18. Psyence Biomedical has a 12-month low of $0.65 and a 12-month high of $17.44.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Psyence Biomedical in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On Psyence Biomedical

A hedge fund recently bought a new stake in Psyence Biomedical stock. Virtu Financial LLC acquired a new stake in Psyence Biomedical Ltd. (NASDAQ:PBM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned about 0.55% of Psyence Biomedical at the end of the most recent quarter. 77.44% of the stock is currently owned by institutional investors and hedge funds.

Psyence Biomedical Company Profile

Psyence Biomedical Ltd. engages in the development of botanical psilocybin-based psychedelic medicines. It also evaluates natural psilocybin for the treatment of adjustment disorder in patients with an incurable cancer diagnosis in a palliative care context. The company’s lead product candidate is PEX010, which is in Phase IIb clinical study, a capsule containing naturally sourced psilocybin for treatment of anxiety and depression, including associated ailments, such as post-traumatic stress disorder, stress, grief, and adjustment disorder in the context of palliative care.