Short Interest in Psyence Biomedical Ltd. (NASDAQ:PBM) Declines By 63.5%

Psyence Biomedical Ltd. (NASDAQ:PBM) saw a large decline in short interest in May. As of May 29th, there was short interest totaling 25,988 shares, a decline of 63.5% from the May 14th total of 71,272 shares. Based on an average daily volume of 81,827 shares, the short-interest ratio is presently 0.3 days. Approximately 2.6% of the shares of the stock are short sold.

Psyence Biomedical Stock Performance

NASDAQ:PBM traded down $0.16 during trading hours on Friday, reaching $3.33. The stock had a trading volume of 62,536 shares, compared to its average volume of 1,573,033. Psyence Biomedical has a 52 week low of $1.92 and a 52 week high of $74.94. The company has a 50 day moving average price of $4.77 and a two-hundred day moving average price of $4.90. The stock has a market capitalization of $3.40 million, a PE ratio of 0.13 and a beta of 1.64.

Analysts Set New Price Targets

A number of research analysts recently commented on PBM shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a report on Tuesday, April 21st. Wall Street Zen raised Psyence Biomedical to a “hold” rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Trading of Psyence Biomedical

An institutional investor recently raised its position in Psyence Biomedical stock. Virtu Financial LLC grew its position in Psyence Biomedical Ltd. (NASDAQ:PBM) by 258.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,042 shares of the company’s stock after acquiring an additional 26,717 shares during the quarter. Virtu Financial LLC owned 3.63% of Psyence Biomedical worth $28,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 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.