MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $923,000 Position in Skye Bioscience, Inc. (NASDAQ:SKYE)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in shares of Skye Bioscience, Inc. (NASDAQ:SKYE) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 326,241 shares of the company’s stock after selling 18,213 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.08% of Skye Bioscience worth $923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Baker BROS. Advisors LP lifted its stake in shares of Skye Bioscience by 1.1% in the fourth quarter. Baker BROS. Advisors LP now owns 1,450,638 shares of the company’s stock worth $4,105,000 after buying an additional 16,004 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in Skye Bioscience by 48.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,422,741 shares of the company’s stock worth $4,026,000 after acquiring an additional 463,644 shares during the last quarter. Braidwell LP acquired a new position in Skye Bioscience during the 4th quarter worth $2,337,000. Geode Capital Management LLC boosted its holdings in Skye Bioscience by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 405,694 shares of the company’s stock valued at $1,148,000 after acquiring an additional 19,901 shares during the period. Finally, Bridgeway Capital Management LLC grew its position in shares of Skye Bioscience by 26.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 72,000 shares of the company’s stock valued at $204,000 after purchasing an additional 15,000 shares during the last quarter. Institutional investors and hedge funds own 21.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Craig Hallum dropped their price objective on Skye Bioscience from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. William Blair reaffirmed an “outperform” rating on shares of Skye Bioscience in a research report on Tuesday, May 20th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Skye Bioscience presently has a consensus rating of “Buy” and a consensus price target of $16.60.

Skye Bioscience Stock Performance

NASDAQ SKYE opened at $1.90 on Tuesday. Skye Bioscience, Inc. has a twelve month low of $1.14 and a twelve month high of $12.45. The stock has a market cap of $58.85 million, a PE ratio of -2.32 and a beta of 1.74. The firm has a 50-day simple moving average of $1.93 and a 200 day simple moving average of $2.07.

Skye Bioscience (NASDAQ:SKYE) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. Research analysts forecast that Skye Bioscience, Inc. will post -1.04 earnings per share for the current fiscal year.

Skye Bioscience Company Profile

Skye Bioscience, Inc, a clinical stage pharmaceutical company, discovers, develops, and commercializes cannabinoid-based molecules for the treatment of infectious diseases. The company's lead product candidate is SBI-100 used in the treatment of glaucoma and ocular hypertension. It is also developing SBI-200 to treat and manage various eye diseases, including uveitis, dry eye syndrome, macular degeneration and diabetic retinopathy.