Psyence Biomedical Ltd. (NASDAQ:PBM) Sees Large Growth in Short Interest

Psyence Biomedical Ltd. (NASDAQ:PBM – Get Free Report) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 48,219 shares, a growth of 245.6% from the August 31st total of 13,951 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average trading volume of 66,626 shares, the short-interest ratio is currently 0.7 days.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Psyence Biomedical to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Psyence Biomedical in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

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Psyence Biomedical Trading Down 5.1%

Shares of NASDAQ:PBM traded down $0.30 during trading on Friday, reaching $5.56. The company had a trading volume of 105,177 shares, compared to its average volume of 86,719. The company has a fifty day moving average of $4.28 and a two-hundred day moving average of $4.01. The stock has a market capitalization of $12.73 million, a P/E ratio of 0.22 and a beta of 1.72. Psyence Biomedical has a 12 month low of $1.92 and a 12 month high of $28.13.

About Psyence Biomedical

(Get Free Report)

Psyence Biomedical Ltd. (NASDAQ: PBM) is a clinical-stage biotechnology company focused on developing psychedelic-based therapeutics for mental health conditions. The company’s research centers on naturally derived psilocybin and its potential use in medically supervised treatment programs.

Its lead development program is designed to evaluate psilocybin-assisted therapy for adjustment disorder in patients with cancer. Psyence Biomedical’s activities include drug development, clinical research and work with external partners to advance psychedelic medicines toward potential regulatory approval and commercialization.

The company became publicly traded on Nasdaq in February 2024 following a business combination with Newcourt Acquisition Corp.

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