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

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 50,560 shares, a drop of 31.5% from the March 15th total of 73,767 shares. Approximately 5.1% of the shares of the company are sold short. Based on an average trading volume of 15,007 shares, the short-interest ratio is presently 3.4 days.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Psyence Biomedical in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Psyence Biomedical Price Performance

Shares of NASDAQ PBM opened at $2.79 on Tuesday. The stock has a fifty day moving average price of $2.63 and a 200 day moving average price of $9.01. Psyence Biomedical has a 1-year low of $1.92 and a 1-year high of $74.94. The company has a market cap of $2.85 million, a PE ratio of 0.11 and a beta of 0.31.

Institutional Investors Weigh In On Psyence Biomedical

An institutional investor recently raised its position in Psyence Biomedical stock. Virtu Financial LLC raised its holdings in Psyence Biomedical Ltd. (NASDAQ:PBM) by 258.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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 SEC. 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.