Silo Pharma, Inc. (NASDAQ:SILO) Short Interest Update

Silo Pharma, Inc. (NASDAQ:SILO) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 33,208 shares, a decrease of 60.0% from the August 15th total of 82,948 shares. Based on an average daily trading volume, of 206,120 shares, the short-interest ratio is currently 0.2 days. Approximately 2.2% of the company’s shares are short sold.

Hedge Funds Weigh In On Silo Pharma

Several hedge funds and other institutional investors have recently modified their holdings of SILO. Geode Capital Management LLC boosted its holdings in shares of Silo Pharma by 134.6% during the fourth quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock worth $32,000 after purchasing an additional 53,309 shares during the period. Virtu Financial LLC purchased a new position in Silo Pharma during the 3rd quarter valued at about $74,000. DRW Securities LLC purchased a new position in Silo Pharma during the 4th quarter valued at about $113,000. Finally, AdvisorShares Investments LLC raised its position in Silo Pharma by 64.3% during the 4th 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 owned by institutional investors.

Silo Pharma Stock Performance

Shares of Silo Pharma stock opened at $2.10 on Friday. Silo Pharma has a 52-week low of $2.05 and a 52-week high of $15.15. The company’s 50 day moving average price is $3.82 and its 200-day moving average price is $5.25. The stock has a market capitalization of $3.34 million, a price-to-earnings ratio of -0.48 and a beta of 0.66.

Silo Pharma (NASDAQ:SILO) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.44). Silo Pharma had a negative net margin of 6,726.39% and a negative return on equity of 81.75%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

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.