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

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 73,767 shares, a decrease of 48.1% from the February 26th total of 142,080 shares. Currently, 7.5% of the company’s stock are short sold. Based on an average trading volume of 21,691 shares, the short-interest ratio is currently 3.4 days.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Psyence Biomedical

An institutional investor recently raised its position in Psyence Biomedical stock. Virtu Financial LLC lifted its stake in Psyence Biomedical Ltd. (NASDAQ:PBM) by 258.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,042 shares of the company’s stock after acquiring an additional 26,717 shares during the period. Virtu Financial LLC owned approximately 3.63% of Psyence Biomedical worth $28,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 77.44% of the company’s stock.

Psyence Biomedical Price Performance

NASDAQ:PBM traded down $0.05 during midday trading on Friday, reaching $2.58. The stock had a trading volume of 12,249 shares, compared to its average volume of 19,599. Psyence Biomedical has a 1-year low of $1.92 and a 1-year high of $74.94. The firm’s fifty day simple moving average is $3.04 and its 200-day simple moving average is $10.80. The stock has a market capitalization of $2.63 million, a P/E ratio of 0.10 and a beta of 0.36.

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.