Skye Bioscience, Inc. (NASDAQ:SKYE) Given Average Rating of “Moderate Buy” by Brokerages

Posted by Francis Steltz on May 31st, 2026

Shares of Skye Bioscience, Inc. (NASDAQ:SKYE – Get Free Report) have earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $9.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in shares of Skye Bioscience during the fourth quarter worth $40,000. Tower Research Capital LLC TRC raised its holdings in shares of Skye Bioscience by 121.3% during the second quarter. Tower Research Capital LLC TRC now owns 10,927 shares of the company’s stock worth $46,000 after purchasing an additional 5,989 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Skye Bioscience during the third quarter worth $53,000. Qube Research & Technologies Ltd purchased a new position in shares of Skye Bioscience during the second quarter worth $218,000. Finally, Two Sigma Investments LP raised its holdings in shares of Skye Bioscience by 46.2% during the third quarter. Two Sigma Investments LP now owns 92,318 shares of the company’s stock worth $363,000 after purchasing an additional 29,163 shares during the last quarter. Hedge funds and other institutional investors own 21.09% of the company’s stock.

Skye Bioscience Trading Down 8.8%

NASDAQ SKYE opened at $0.78 on Friday. The company has a fifty day simple moving average of $0.78 and a two-hundred day simple moving average of $0.90. The stock has a market cap of $27.25 million, a P/E ratio of -0.54 and a beta of 3.03. Skye Bioscience has a 12-month low of $0.57 and a 12-month high of $5.75.

Skye Bioscience (NASDAQ:SKYE – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.03). As a group, sell-side analysts forecast that Skye Bioscience will post -1.07 earnings per share for the current year.

Skye Bioscience Company Profile

(Get Free Report)

Skye Bioscience, Inc is a clinical-stage biotechnology company focused on the development of novel, selective cannabinoid type 1 (CB1) receptor modulators for the treatment of ocular diseases. Headquartered in Sunnyvale, California, Skye Bioscience leverages proprietary chemistry and formulation expertise to design and optimize compounds with high potency, tissue selectivity and favorable drug-like properties. The company’s lead product candidate is being evaluated for the treatment of glaucoma and other ophthalmic conditions characterized by elevated intraocular pressure.

Skye Bioscience’s pipeline centers on synthetic cannabinoids engineered to avoid central nervous system side effects commonly associated with traditional cannabinoid therapies.