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

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a significant increase in short interest in the month of January. As of January 30th, there was short interest totaling 145,422 shares, an increase of 116.0% from the January 15th total of 67,332 shares. Currently, 14.8% of the shares of the stock are short sold. Based on an average daily volume of 618,782 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 618,782 shares, the days-to-cover ratio is currently 0.2 days. Currently, 14.8% of the shares of the stock are short sold.

Institutional Trading of Psyence Biomedical

An institutional investor recently bought a new position in Psyence Biomedical stock. Virtu Financial LLC acquired a new stake in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned approximately 0.55% of Psyence Biomedical as of its most recent SEC filing. Institutional investors own 77.44% of the company’s stock.

Psyence Biomedical Stock Performance

Shares of Psyence Biomedical stock traded down $0.15 on Thursday, hitting $2.81. 82,579 shares of the company traded hands, compared to its average volume of 284,666. The stock has a market capitalization of $2.87 million, a P/E ratio of 0.11 and a beta of 0.32. Psyence Biomedical has a 52 week low of $2.54 and a 52 week high of $74.94. The business has a 50-day simple moving average of $5.85 and a 200 day simple moving average of $15.35.

Analysts Set New Price Targets

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