Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Update

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totalling 34,000 shares, an increase of 55.3% from the April 30th total of 21,900 shares. Based on an average daily volume of 70,600 shares, the short-interest ratio is presently 0.5 days. Currently, 38.7% of the shares of the stock are sold short.

Psyence Biomedical Price Performance

PBM traded down $0.73 during trading on Friday, reaching $4.49. 979,731 shares of the company’s stock were exchanged, compared to its average volume of 108,194. The company’s fifty day moving average price is $4.19 and its 200-day moving average price is $11.17. Psyence Biomedical has a fifty-two week low of $2.92 and a fifty-two week high of $699.19.

Institutional Trading of Psyence Biomedical

A number of institutional investors have recently bought and sold shares of PBM. Virtu Financial LLC acquired a new stake in Psyence Biomedical during the 4th quarter worth $27,000. Essential Planning LLC. acquired a new stake in Psyence Biomedical during the 4th quarter worth $163,000. Finally, Harraden Circle Investments LLC acquired a new stake in Psyence Biomedical during the 4th quarter worth $385,000. Institutional investors and hedge funds own 77.44% of the company’s stock.

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.