Psyence Biomedical Ltd. (NASDAQ:PBM) Sees Significant Decrease in Short Interest

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a large drop in short interest during the month of January. As of January 15th, there was short interest totaling 67,332 shares, a drop of 40.8% from the December 31st total of 113,708 shares. Based on an average daily volume of 305,635 shares, the days-to-cover ratio is currently 0.2 days. Approximately 6.8% of the shares of the company are sold short. Approximately 6.8% of the shares of the company are sold short. Based on an average daily volume of 305,635 shares, the days-to-cover ratio is currently 0.2 days.

Psyence Biomedical Price Performance

NASDAQ:PBM traded down $0.08 during mid-day trading on Friday, reaching $0.64. The stock had a trading volume of 518,319 shares, compared to its average volume of 440,964. Psyence Biomedical has a 12 month low of $0.61 and a 12 month high of $12.80. The stock has a market capitalization of $653,412.00, a PE ratio of 0.16 and a beta of 0.32. The stock has a 50-day simple moving average of $6.19 and a two-hundred day simple moving average of $17.52.

Institutional Investors Weigh In On Psyence Biomedical

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

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Psyence Biomedical in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

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.