Psyence Biomedical Ltd. (NASDAQ:PBM) Sees Significant Decrease in Short Interest

Psyence Biomedical Ltd. (NASDAQ:PBM) was the recipient of a significant decline in short interest in January. As of January 15th, there was short interest totaling 67,332 shares, a decline of 40.8% from the December 31st total of 113,708 shares. Based on an average daily volume of 305,635 shares, the short-interest ratio is presently 0.2 days. Approximately 6.8% of the company’s stock are sold short. Approximately 6.8% of the company’s stock are sold short. Based on an average daily volume of 305,635 shares, the short-interest ratio is presently 0.2 days.

Psyence Biomedical Trading Down 11.1%

NASDAQ PBM traded down $0.08 during trading hours on Friday, hitting $0.64. The company’s stock had a trading volume of 518,319 shares, compared to its average volume of 467,049. The company’s 50-day simple moving average is $6.19 and its two-hundred day simple moving average is $17.31. The company has a market capitalization of $653,412.00, a PE ratio of 0.16 and a beta of 0.32. Psyence Biomedical has a 52 week low of $0.61 and a 52 week high of $12.80.

Institutional Investors Weigh In On Psyence Biomedical

A hedge fund recently bought a new stake in Psyence Biomedical stock. Virtu Financial LLC acquired a new stake in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned approximately 0.55% of Psyence Biomedical at the end of the most recent quarter. 77.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Psyence Biomedical in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

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.