Short Interest in Psyence Biomedical Ltd. (NASDAQ:PBM) Decreases By 61.6%

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a significant decline in short interest in the month of August. As of August 14th, there was short interest totaling 14,380 shares, a decline of 61.6% from the July 30th total of 37,423 shares. Based on an average trading volume of 42,408 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.7% of the shares of the company are short sold.

Institutional Trading of Psyence Biomedical

A hedge fund recently raised its position in Psyence Biomedical stock. Virtu Financial LLC increased its stake in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) by 258.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,042 shares of the company’s stock after acquiring an additional 26,717 shares during the period. Virtu Financial LLC owned about 3.63% of Psyence Biomedical worth $28,000 as of its most recent SEC filing. Institutional investors own 77.44% of the company’s stock.

Psyence Biomedical Price Performance

Shares of Psyence Biomedical stock traded down $0.10 during trading on Friday, hitting $4.21. 14,690 shares of the company’s stock traded hands, compared to its average volume of 97,655. The firm’s fifty day moving average price is $3.32 and its 200 day moving average price is $3.64. Psyence Biomedical has a twelve month low of $1.92 and a twelve month high of $34.63. The company has a market cap of $9.65 million, a PE ratio of 0.17 and a beta of 1.66.

Psyence Biomedical (NASDAQ:PBM) last issued its earnings results on Monday, June 22nd. The company reported ($0.41) EPS for the quarter.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Psyence Biomedical to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Psyence Biomedical in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About Psyence Biomedical

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.