Psyence Biomedical Ltd. (NASDAQ:PBM – Get Free Report) was up 25.1% during mid-day trading on Wednesday . The company traded as high as $4.50 and last traded at $4.44. Approximately 3,137,039 shares changed hands during mid-day trading, an increase of 112% from the average daily volume of 1,480,072 shares. The stock had previously closed at $3.55.
Wall Street Analyst Weigh In
A number of analysts have weighed in on PBM shares. Wall Street Zen raised shares of Psyence Biomedical to a “hold” rating in a research report on Saturday, June 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a research report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.
Read Our Latest Analysis on PBM
Psyence Biomedical Trading Up 25.1%
Institutional Trading of Psyence Biomedical
A hedge fund recently bought a new stake in Psyence Biomedical stock. Parallel Advisors LLC acquired a new position in shares of Psyence Biomedical Ltd. (NASDAQ:PBM – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 275,000 shares of the company’s stock, valued at approximately $1,466,000. Parallel Advisors LLC owned 48.25% of Psyence Biomedical as of its most recent SEC filing. Hedge funds and other institutional investors own 77.44% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than Psyence Biomedical
- The 3 Best Retail Stocks to Shop for in August
- Lowe’s vs. Home Depot: Which Benefits More From Lower Rates?
- What Are Growth Stocks and Investing in Them
- These 5 Beaten-Down Tech Stocks Could Catch Fire Next
- ETF Screener: Uses and Step-by-Step Guide
- Falcon Flex Drives Growth as CrowdStrike Bets on AI Security
Receive News & Ratings for Psyence Biomedical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Psyence Biomedical and related companies with MarketBeat.com's FREE daily email newsletter.
