Wall Street Zen Upgrades Psyence Biomedical (NASDAQ:PBM) to Hold

Psyence Biomedical (NASDAQ:PBM) was upgraded by analysts at Wall Street Zen to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Psyence Biomedical in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Psyence Biomedical presently has an average rating of “Sell”.

Psyence Biomedical Price Performance

Shares of PBM opened at $5.16 on Friday. Psyence Biomedical has a one year low of $1.92 and a one year high of $28.13. The firm has a market capitalization of $11.82 million, a P/E ratio of 0.20 and a beta of 1.68. The business has a fifty day moving average of $4.53 and a 200 day moving average of $4.13.

About Psyence Biomedical

Psyence Biomedical Ltd. (NASDAQ: PBM) is a clinical-stage biotechnology company focused on developing psychedelic-based therapeutics for mental health conditions. The company’s research centers on naturally derived psilocybin and its potential use in medically supervised treatment programs.

Its lead development program is designed to evaluate psilocybin-assisted therapy for adjustment disorder in patients with cancer. Psyence Biomedical’s activities include drug development, clinical research and work with external partners to advance psychedelic medicines toward potential regulatory approval and commercialization.

The company became publicly traded on Nasdaq in February 2024 following a business combination with Newcourt Acquisition Corp.