Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Up 63.8% in February

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 142,080 shares, a growth of 63.8% from the February 12th total of 86,725 shares. Based on an average daily volume of 255,898 shares, the short-interest ratio is currently 0.6 days. Currently, 14.4% of the company’s stock are sold short. Currently, 14.4% of the company’s stock are sold short. Based on an average daily volume of 255,898 shares, the short-interest ratio is currently 0.6 days.

Psyence Biomedical Stock Performance

Shares of NASDAQ PBM opened at $2.46 on Friday. The company has a fifty day moving average price of $3.50 and a 200 day moving average price of $11.82. The firm has a market cap of $2.51 million, a PE ratio of 0.10 and a beta of 0.36. Psyence Biomedical has a 1-year low of $1.92 and a 1-year high of $74.94.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Psyence Biomedical stock. Virtu Financial LLC increased its position in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) by 258.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,042 shares of the company’s stock after buying an additional 26,717 shares during the quarter. Virtu Financial LLC owned 3.63% of Psyence Biomedical worth $28,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 77.44% of the company’s stock.

Analysts Set New Price Targets

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