Silo Pharma, Inc. (NASDAQ:SILO) Short Interest Down 55.7% in May

Silo Pharma, Inc. (NASDAQ:SILO) saw a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 322,795 shares, a decrease of 55.7% from the May 14th total of 728,373 shares. Based on an average daily trading volume, of 222,602 shares, the short-interest ratio is currently 1.5 days. Currently, 34.9% of the company’s stock are short sold.

Institutional Investors Weigh In On Silo Pharma

Several institutional investors have recently made changes to their positions in SILO. Geode Capital Management LLC increased its stake in Silo Pharma by 134.6% in the fourth quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock valued at $32,000 after acquiring an additional 53,309 shares during the last quarter. Virtu Financial LLC bought a new position in Silo Pharma in the third quarter valued at approximately $74,000. DRW Securities LLC bought a new position in Silo Pharma in the fourth quarter valued at approximately $113,000. AdvisorShares Investments LLC increased its stake in Silo Pharma by 64.3% in the fourth quarter. AdvisorShares Investments LLC now owns 599,507 shares of the company’s stock valued at $204,000 after acquiring an additional 234,629 shares during the last quarter. Finally, Anson Funds Management LP bought a new position in Silo Pharma in the third quarter valued at approximately $657,000. 5.58% of the stock is currently owned by institutional investors.

Silo Pharma Stock Performance

NASDAQ:SILO traded up $0.19 during mid-day trading on Friday, hitting $6.63. The stock had a trading volume of 19,675 shares, compared to its average volume of 28,055. Silo Pharma has a twelve month low of $3.32 and a twelve month high of $15.15. The stock has a market cap of $6.23 million, a price-to-earnings ratio of -1.03 and a beta of 0.63. The company’s 50 day simple moving average is $6.43 and its 200 day simple moving average is $5.81.

Silo Pharma (NASDAQ:SILO) last issued its quarterly earnings data on Friday, March 27th. The company reported $0.45 earnings per share (EPS) for the quarter. The firm had revenue of $0.02 million during the quarter. Silo Pharma had a negative net margin of 6,726.39% and a negative return on equity of 88.40%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Silo Pharma Company Profile

Silo Pharma, Inc (NASDAQ:SILO) is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel psychedelic and related synthetic therapies. Headquartered in New York City, the company applies proprietary chemistry and targeted drug delivery approaches to advance candidates that address critical unmet needs across oncology, neurology and mental health.

The company’s preclinical and early-stage clinical pipeline comprises several programs that explore serotonin receptor modulators, synthetic analogs of classic psychoactive compounds and neuroprotective agents.