Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Up 63.8% in February
by Renee Jackson · The Cerbat GemPsyence Biomedical Ltd. (NASDAQ:PBM – Get Free Report) saw a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 142,080 shares, an increase of 63.8% from the February 12th total of 86,725 shares. Approximately 14.4% of the shares of the company are sold short. Based on an average trading volume of 255,898 shares, the days-to-cover ratio is presently 0.6 days. Based on an average trading volume of 255,898 shares, the days-to-cover ratio is presently 0.6 days. Approximately 14.4% of the shares of the company are sold short.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Psyence Biomedical currently has an average rating of “Sell”.
Get Our Latest Stock Analysis on Psyence Biomedical
Institutional Investors Weigh In On Psyence Biomedical
An institutional investor recently bought a new position in Psyence Biomedical stock. Virtu Financial LLC bought a new position in Psyence Biomedical Ltd. (NASDAQ:PBM – Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 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. Institutional investors and hedge funds own 77.44% of the company’s stock.
Psyence Biomedical Price Performance
Psyence Biomedical stock remained flat at $2.46 during mid-day trading on Friday. 3,135 shares of the company traded hands, compared to its average volume of 258,058. Psyence Biomedical has a one year low of $1.92 and a one year high of $74.94. The company has a 50 day moving average of $3.54 and a 200 day moving average of $11.95. The stock has a market cap of $2.51 million, a price-to-earnings ratio of 0.10 and a beta of 0.36.
About Psyence Biomedical
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.