Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Update

Psyence Biomedical Ltd. (NASDAQ:PBM) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 113,708 shares, a drop of 63.6% from the December 15th total of 312,062 shares. Currently, 6.3% of the shares of the company are short sold. Based on an average daily volume of 3,393,780 shares, the short-interest ratio is presently 0.0 days. Based on an average daily volume of 3,393,780 shares, the short-interest ratio is presently 0.0 days. Currently, 6.3% of the shares of the company are short sold.

Psyence Biomedical Trading Down 13.9%

PBM traded down $0.11 during midday trading on Thursday, hitting $0.67. 538,257 shares of the company traded hands, compared to its average volume of 307,860. The business has a 50 day simple moving average of $1.51 and a two-hundred day simple moving average of $3.20. Psyence Biomedical has a 52-week low of $0.65 and a 52-week high of $17.44. The company has a market capitalization of $1.25 million, a price-to-earnings ratio of 0.17 and a beta of 0.32.

Hedge Funds 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) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned approximately 0.55% of Psyence Biomedical at the end of the most recent reporting period. 77.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Psyence Biomedical presently has an average 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.