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

Psyence Biomedical Ltd. (NASDAQ:PBM) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 113,708 shares, a decline of 63.6% from the December 15th total of 312,062 shares. Based on an average trading volume of 3,393,780 shares, the short-interest ratio is currently 0.0 days. Currently, 6.3% of the shares of the stock are sold short. Currently, 6.3% of the shares of the stock are sold short. Based on an average trading volume of 3,393,780 shares, the short-interest ratio is currently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Psyence Biomedical in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Psyence Biomedical has an average rating of “Sell”.

Institutional Trading of Psyence Biomedical

A hedge fund recently bought a new stake in Psyence Biomedical stock. Virtu Financial LLC purchased a new stake in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent quarter. 77.44% of the stock is currently owned by institutional investors.

Psyence Biomedical Stock Down 0.3%

Shares of PBM traded down $0.00 during mid-day trading on Wednesday, hitting $0.78. 127,643 shares of the company’s stock were exchanged, compared to its average volume of 2,067,455. Psyence Biomedical has a 52 week low of $0.66 and a 52 week high of $17.44. The firm has a market cap of $1.46 million, a price-to-earnings ratio of 0.19 and a beta of 0.32. The stock’s 50-day simple moving average is $1.55 and its 200-day simple moving average is $3.22.

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.