Silo Pharma, Inc. (NASDAQ:SILO) Short Interest Up 795.6% in July

Silo Pharma, Inc. (NASDAQ:SILO) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totaling 155,110 shares, an increase of 795.6% from the June 30th total of 17,320 shares. Currently, 14.3% of the company’s stock are short sold. Based on an average daily volume of 708,397 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Silo Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Silo Pharma currently has an average rating of “Sell”.

Institutional Trading of Silo Pharma

A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in Silo Pharma by 134.6% during the 4th quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock worth $32,000 after buying an additional 53,309 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Silo Pharma during the third quarter worth approximately $74,000. DRW Securities LLC acquired a new position in shares of Silo Pharma in the 4th quarter valued at $113,000. Finally, AdvisorShares Investments LLC increased its holdings in shares of Silo Pharma by 64.3% in the 4th quarter. AdvisorShares Investments LLC now owns 599,507 shares of the company’s stock valued at $204,000 after acquiring an additional 234,629 shares during the period. 5.58% of the stock is owned by institutional investors and hedge funds.

Silo Pharma Stock Performance

NASDAQ SILO traded up $0.01 during trading hours on Friday, hitting $4.47. The company had a trading volume of 32,208 shares, compared to its average volume of 414,490. Silo Pharma has a 1-year low of $3.32 and a 1-year high of $15.15. The company has a market cap of $5.05 million, a PE ratio of -0.69 and a beta of 0.63. The business has a 50 day moving average of $5.84 and a 200-day moving average of $5.72.

About Silo Pharma

Silo Pharma, Inc (NASDAQ:SILO) is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel psychedelic and related synthetic therapies. Headquartered in New York City, the company applies proprietary chemistry and targeted drug delivery approaches to advance candidates that address critical unmet needs across oncology, neurology and mental health.

The company’s preclinical and early-stage clinical pipeline comprises several programs that explore serotonin receptor modulators, synthetic analogs of classic psychoactive compounds and neuroprotective agents.