Silo Pharma (NASDAQ:SILO) Stock Price Up 1.2% – Here’s What Happened

Silo Pharma, Inc. (NASDAQ:SILO)’s share price rose 1.2% during trading on Friday . The company traded as high as $0.54 and last traded at $0.5150. Approximately 2,112,380 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 9,894,242 shares. The stock had previously closed at $0.5090.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Silo Pharma in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Silo Pharma Price Performance

The business has a 50-day moving average of $0.36 and a 200-day moving average of $0.42. The firm has a market cap of $8.38 million, a price-to-earnings ratio of -0.95 and a beta of 0.35.

Silo Pharma (NASDAQ:SILO) last released its earnings results on Friday, March 27th. The company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $0.02 million for the quarter. Silo Pharma had a negative return on equity of 83.53% and a negative net margin of 5,870.83%.

Institutional Trading of Silo Pharma

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Silo Pharma by 134.6% in the fourth quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock valued at $32,000 after acquiring an additional 53,309 shares during the last quarter. Virtu Financial LLC acquired a new position in Silo Pharma during the third quarter worth approximately $74,000. DRW Securities LLC acquired a new position in Silo Pharma during the fourth quarter worth approximately $113,000. AdvisorShares Investments LLC increased its position in Silo Pharma by 64.3% during the fourth quarter. AdvisorShares Investments LLC now owns 599,507 shares of the company’s stock worth $204,000 after buying an additional 234,629 shares during the last quarter. Finally, Anson Funds Management LP acquired a new position in Silo Pharma during the third quarter worth approximately $657,000. Institutional investors and hedge funds own 5.58% of the company’s stock.

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.