Silo Pharma, Inc. (NASDAQ:SILO) Short Interest Update

Silo Pharma, Inc. (NASDAQ:SILO) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 56,700 shares, a decline of 15.4% from the October 15th total of 67,000 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average trading volume of 39,400 shares, the short-interest ratio is presently 1.4 days.

Analyst Upgrades and Downgrades

Separately, Laidlaw started coverage on shares of Silo Pharma in a report on Monday, August 28th. They issued a “buy” rating and a $10.00 price target on the stock.

Silo Pharma Trading Down 9.3 %

Shares of NASDAQ SILO opened at $1.36 on Monday. The firm’s fifty day moving average is $1.65 and its two-hundred day moving average is $1.93. Silo Pharma has a 52-week low of $1.22 and a 52-week high of $6.56.

Institutional Trading of Silo Pharma

A number of large investors have recently made changes to their positions in the business. Financial Advocates Investment Management increased its holdings in shares of Silo Pharma by 196.6% in the 1st quarter. Financial Advocates Investment Management now owns 44,507 shares of the company’s stock worth $93,000 after buying an additional 29,500 shares during the last quarter. Geode Capital Management LLC bought a new stake in shares of Silo Pharma in the 1st quarter worth about $51,000. State Street Corp bought a new stake in shares of Silo Pharma in the 1st quarter worth about $26,000. Finally, UBS Group AG bought a new stake in shares of Silo Pharma in the 3rd quarter worth about $37,000. 3.22% of the stock is currently owned by institutional investors.

About Silo Pharma

Silo Pharma. Inc, a developmental stage biopharmaceutical company, focuses on merging traditional therapeutics with psychedelic research. The company's developing solutions to address various underserved conditions. It also seeks to acquire and/or develop intellectual property or technology rights from universities and researchers to treat rare diseases, including the use of psychedelic drugs, such as psilocybin, and the benefits they may have in certain cases involving depression, mental health issues, and neurological disorders.