Psyence Biomedical Ltd. (NASDAQ:PBM – Get Free Report) was the target of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 25,988 shares, a drop of 63.5% from the May 14th total of 71,272 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average daily volume of 81,827 shares, the short-interest ratio is currently 0.3 days.
Psyence Biomedical Price Performance
Shares of PBM stock traded down $0.16 during trading hours on Friday, reaching $3.33. 62,536 shares of the company traded hands, compared to its average volume of 1,573,033. Psyence Biomedical has a 12-month low of $1.92 and a 12-month high of $74.94. The company has a market cap of $3.40 million, a P/E ratio of 0.13 and a beta of 1.64. The firm has a 50-day moving average price of $4.77 and a 200 day moving average price of $4.90.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on PBM shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Psyence Biomedical in a research report on Tuesday, April 21st. Wall Street Zen raised Psyence Biomedical to a “hold” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Psyence Biomedical stock. Virtu Financial LLC purchased a new position in Psyence Biomedical Ltd. (NASDAQ:PBM – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 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 currently owned by hedge funds and other institutional investors.
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.
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