Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Up 1,219.7% in August

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a large increase in short interest in the month of August. As of August 15th, there was short interest totaling 80,500 shares, anincreaseof1,219.7% from the July 31st total of 6,100 shares. Approximately11.3% of the company’s shares are short sold. Based on an average trading volume of 1,600,000 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 1,600,000 shares, the short-interest ratio is currently 0.1 days. Approximately11.3% of the company’s shares are short sold.

Institutional Trading of Psyence Biomedical

An institutional investor recently bought a new position in Psyence Biomedical stock. Parallel Advisors LLC bought a new position in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 275,000 shares of the company’s stock, valued at approximately $1,466,000. Parallel Advisors LLC owned approximately 48.25% of Psyence Biomedical as of its most recent filing with the Securities and Exchange Commission. 77.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Psyence Biomedical to a “hold” rating in a report on Saturday, June 14th.

Psyence Biomedical Price Performance

PBM opened at $2.65 on Thursday. The firm has a 50 day moving average price of $4.77 and a 200 day moving average price of $5.17. Psyence Biomedical has a 1 year low of $2.36 and a 1 year high of $184.92.

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.