Silo Pharma (NASDAQ:SILO) Stock Price Down 2% – Time to Sell?

Shares of Silo Pharma, Inc. (NASDAQ:SILO) were down 2% on Thursday . The company traded as low as $4.77 and last traded at $4.78. 36,179 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 424,250 shares. The stock had previously closed at $4.88.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Silo Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Silo Pharma Trading Down 2.0%

The firm has a market capitalization of $5.40 million, a price-to-earnings ratio of -0.74 and a beta of 0.63. The stock’s 50-day moving average is $5.99 and its 200-day moving average is $5.75.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of Silo Pharma by 134.6% in the 4th 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 stake in Silo Pharma during the 3rd quarter worth $74,000. DRW Securities LLC bought a new position in Silo Pharma in the fourth quarter valued at about $113,000. Finally, AdvisorShares Investments LLC raised its position 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 purchasing an additional 234,629 shares during the last quarter. 5.58% of the stock is currently owned by institutional investors and hedge funds.

About Silo Pharma

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.