Short Interest in Silo Pharma, Inc. (NASDAQ:SILO) Declines By 34.5%
by Kim Johansen · The Markets DailySilo Pharma, Inc. (NASDAQ:SILO – Get Free Report) was the target of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 82,948 shares, a drop of 34.5% from the July 30th total of 126,549 shares. Currently, 5.4% of the company’s shares are sold short. Based on an average trading volume of 81,506 shares, the short-interest ratio is currently 1.0 days.
Institutional Trading of Silo Pharma
Several institutional investors and hedge funds have recently bought and sold shares of the business. AdvisorShares Investments LLC increased its holdings in shares of Silo Pharma by 10.8% during the 1st quarter. AdvisorShares Investments LLC now owns 663,965 shares of the company’s stock worth $239,000 after acquiring an additional 64,458 shares during the last quarter. DRW Securities LLC bought a new position in shares of Silo Pharma in the fourth quarter valued at about $113,000. Geode Capital Management LLC lifted its stake in shares of Silo Pharma by 134.6% during the 4th quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock worth $32,000 after buying an additional 53,309 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Silo Pharma during the 3rd quarter worth about $74,000. Institutional investors own 5.58% of the company’s stock.
Silo Pharma Stock Up 0.2%
Shares of NASDAQ:SILO traded up $0.01 during midday trading on Tuesday, hitting $2.48. The stock had a trading volume of 3,575 shares, compared to its average volume of 199,017. The company has a market cap of $3.95 million, a P/E ratio of -0.57 and a beta of 0.71. Silo Pharma has a 12 month low of $2.43 and a 12 month high of $15.15. The business’s 50-day simple moving average is $4.50 and its 200-day simple moving average is $5.39.
Silo Pharma (NASDAQ:SILO – Get Free Report) last posted its quarterly earnings results 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%.
Analyst Ratings Changes
Separately, Weiss Ratings cut Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.
Check Out Our Latest Research Report on SILO
About Silo Pharma
Silo Pharma, Inc (NASDAQ:SILO) is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel psychedelic and related synthetic therapies. Headquartered in New York City, the company applies proprietary chemistry and targeted drug delivery approaches to advance candidates that address critical unmet needs across oncology, neurology and mental health.
The company’s preclinical and early-stage clinical pipeline comprises several programs that explore serotonin receptor modulators, synthetic analogs of classic psychoactive compounds and neuroprotective agents.