Skye Bioscience, Inc. (NASDAQ:SKYE – Get Free Report) major shareholder 5Am Partners Vii, Llc sold 33,892 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $1.91, for a total value of $64,733.72. Following the completion of the sale, the insider owned 5,616 shares of the company’s stock, valued at $10,726.56. This represents a 85.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
5Am Partners Vii, Llc also recently made the following trade(s):
- On Thursday, August 20th, 5Am Partners Vii, Llc sold 962 shares of Skye Bioscience stock. The shares were sold at an average price of $2.56, for a total value of $2,462.72.
- On Wednesday, August 19th, 5Am Partners Vii, Llc sold 8,517 shares of Skye Bioscience stock. The shares were sold at an average price of $2.80, for a total value of $23,847.60.
- On Tuesday, August 18th, 5Am Partners Vii, Llc sold 37,500 shares of Skye Bioscience stock. The stock was sold at an average price of $3.04, for a total transaction of $114,000.00.
Skye Bioscience Stock Performance
NASDAQ SKYE opened at $1.76 on Friday. Skye Bioscience, Inc. has a one year low of $1.50 and a one year high of $39.92. The company has a market capitalization of $7.82 million, a price-to-earnings ratio of -0.17 and a beta of 2.90. The company’s 50-day simple moving average is $3.39 and its two-hundred day simple moving average is $5.09.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings lowered Skye Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $64.00.
Check Out Our Latest Report on Skye Bioscience
Skye Bioscience Company Profile
Skye Bioscience, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that modulate the endocannabinoid system, a network involved in metabolism, inflammation and other physiological processes. The company’s research is centered on therapies designed to influence cannabinoid receptors outside the central nervous system, with the goal of addressing disease while avoiding certain side effects associated with earlier centrally acting cannabinoid drugs.
Skye’s lead investigational product is nimacimab, a monoclonal antibody that targets the cannabinoid receptor 1 (CB1).
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