Short Interest in Psyence Biomedical Ltd. (NASDAQ:PBM) Rises By 63.8%

Psyence Biomedical Ltd. (NASDAQ:PBM) saw a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 142,080 shares, an increase of 63.8% from the February 12th total of 86,725 shares. Approximately 14.4% of the shares of the company are short sold. Based on an average daily trading volume, of 255,898 shares, the short-interest ratio is currently 0.6 days. Based on an average daily trading volume, of 255,898 shares, the short-interest ratio is currently 0.6 days. Approximately 14.4% of the shares of the company are short sold.

Institutional Trading of Psyence Biomedical

An institutional investor recently raised its position in Psyence Biomedical stock. Virtu Financial LLC grew its position in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) by 258.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,042 shares of the company’s stock after purchasing an additional 26,717 shares during the period. Virtu Financial LLC owned approximately 3.63% of Psyence Biomedical worth $28,000 at the end of the most recent quarter. Institutional investors own 77.44% of the company’s stock.

Psyence Biomedical Stock Performance

Shares of PBM remained flat at $2.46 during midday trading on Friday. The stock had a trading volume of 3,135 shares, compared to its average volume of 220,695. Psyence Biomedical has a 12-month low of $1.92 and a 12-month high of $74.94. The firm has a market cap of $2.51 million, a price-to-earnings ratio of 0.10 and a beta of 0.36. The stock’s 50 day moving average is $3.50 and its 200-day moving average is $11.88.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from 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.