Psyence Biomedical (NASDAQ:PBM) Stock Rating Upgraded by Wall Street Zen

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

Psyence Biomedical Price Performance

Shares of NASDAQ PBM opened at $4.54 on Friday. The stock has a 50 day moving average price of $4.30 and a 200 day moving average price of $9.36. Psyence Biomedical has a 52 week low of $2.92 and a 52 week high of $699.19.

Institutional Trading of Psyence Biomedical

Several institutional investors and hedge funds have recently added to or reduced their stakes in PBM. Virtu Financial LLC bought a new position in shares of Psyence Biomedical in the 4th quarter valued at about $27,000. Essential Planning LLC. bought a new stake in shares of Psyence Biomedical in the 4th quarter valued at about $163,000. Finally, Harraden Circle Investments LLC acquired a new stake in Psyence Biomedical in the 4th quarter valued at about $385,000. 77.44% of the stock is owned by institutional investors.

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.