Psyence Biomedical Ltd. (NASDAQ:PBM) Sees Significant Decrease in Short Interest

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a large decline in short interest in 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 currently 0.3 days. Currently, 0.7% of the company’s stock are sold short.

Institutional Trading of Psyence Biomedical

A hedge fund recently bought a new position in Psyence Biomedical stock. Virtu Financial LLC purchased a new stake in Psyence Biomedical Ltd. (NASDAQ:PBM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned about 0.55% of Psyence Biomedical as of its most recent filing with the Securities and Exchange Commission (SEC). 77.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on PBM. Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a research report on Friday, July 17th. Wall Street Zen upgraded Psyence Biomedical to a “hold” rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Psyence Biomedical presently has an average rating of “Sell”.

Psyence Biomedical Stock Down 2.8%

Shares of NASDAQ PBM traded down $0.12 during trading on Friday, reaching $4.19. 11,606 shares of the stock were exchanged, compared to its average volume of 1,091,738. The company has a market capitalization of $9.60 million, a price-to-earnings ratio of 0.17 and a beta of 1.66. The business’s 50-day moving average price is $3.29 and its 200 day moving average price is $3.63. Psyence Biomedical has a twelve month low of $1.92 and a twelve month high of $34.63.

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

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.