Psyence Biomedical Ltd. (NASDAQ:PBM – Get Free Report) shares passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $4.01 and traded as low as $3.63. Psyence Biomedical shares last traded at $3.66, with a volume of 45,711 shares trading hands.
Analyst Ratings Changes
PBM has been the subject of a number of research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a research note on Thursday, October 15th. Wall Street Zen upgraded shares of Psyence Biomedical to a “hold” rating in a research report on Saturday, October 3rd. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company presently has an average rating of “Sell”.
View Our Latest Stock Analysis on Psyence Biomedical
Psyence Biomedical Price Performance
The company has a 50 day simple moving average of $4.85 and a 200-day simple moving average of $3.99. The stock has a market cap of $7.79 million, a P/E ratio of 0.13 and a beta of 1.68.
About Psyence Biomedical
Psyence Biomedical, Inc is a clinical-stage biotechnology company developing psychedelic-based therapeutics for mental health conditions. The company focuses on naturally derived psilocybin treatments intended to address psychological and emotional distress associated with serious or life-altering illnesses.
Its lead development program, Psyence-1, is being evaluated as a potential treatment for adjustment disorder in patients facing life-threatening illnesses, including cancer. The program is designed to combine psilocybin administration with psychological support and is being advanced through clinical research and development activities.
Psyence Biomedical was formed as part of the Psyence Group and became a publicly traded company following a business combination with Newcourt Acquisition Corp.
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