Silo Pharma, Inc. (NASDAQ:SILO) Stock Short Interest Falls 36.7%

Silo Pharma, Inc. (NASDAQ:SILO) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 22,078 shares, a decrease of 36.7% from the September 30th total of 34,870 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average trading volume of 156,498 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Silo Pharma

A hedge fund recently raised its stake in Silo Pharma stock. AdvisorShares Investments LLC lifted its stake in Silo Pharma, Inc. (NASDAQ:SILO) by 10.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 663,965 shares of the company’s stock after purchasing an additional 64,458 shares during the quarter. AdvisorShares Investments LLC owned 4.08% of Silo Pharma worth $239,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 5.58% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, August 21st. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has a consensus rating of “Sell”.

Silo Pharma Stock Performance

Shares of SILO traded up $0.06 during midday trading on Monday, hitting $1.28. 2,733 shares of the stock traded hands, compared to its average volume of 172,618. The business’s 50 day moving average price is $1.76 and its two-hundred day moving average price is $4.55. The firm has a market capitalization of $2.04 million, a PE ratio of -0.29 and a beta of 0.81. Silo Pharma has a 1-year low of $1.10 and a 1-year high of $10.43.

Silo Pharma (NASDAQ:SILO) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.44). Silo Pharma had a negative return on equity of 81.75% and a negative net margin of 6,726.39%.

About Silo Pharma

Silo Pharma, Inc is a development-stage biopharmaceutical company focused on developing therapeutics that combine traditional pharmaceutical approaches with psychedelic research. The company’s programs are intended to address conditions involving pain, inflammation, neurological disorders, and mental health.

Silo Pharma’s pipeline has included SP-26, an investigational ketamine-based implant designed to provide sustained drug delivery and being explored for conditions such as fibromyalgia.