BNP Paribas Financial Markets Has $90,000 Stock Holdings in Skye Bioscience, Inc. (NASDAQ:SKYE)

BNP Paribas Financial Markets lessened its holdings in Skye Bioscience, Inc. (NASDAQ:SKYE) by 33.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,637 shares of the company’s stock after selling 15,780 shares during the period. BNP Paribas Financial Markets owned about 0.10% of Skye Bioscience worth $90,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of Skye Bioscience in the fourth quarter worth $29,000. Wells Fargo & Company MN increased its stake in shares of Skye Bioscience by 49.0% in the fourth quarter. Wells Fargo & Company MN now owns 11,199 shares of the company’s stock worth $32,000 after acquiring an additional 3,684 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Skye Bioscience by 195.5% in the fourth quarter. Jane Street Group LLC now owns 36,057 shares of the company’s stock worth $102,000 after acquiring an additional 23,857 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Skye Bioscience by 20.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 62,363 shares of the company’s stock worth $176,000 after acquiring an additional 10,707 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Skye Bioscience by 20.3% in the fourth quarter. Barclays PLC now owns 69,620 shares of the company’s stock worth $198,000 after acquiring an additional 11,731 shares during the last quarter. Institutional investors and hedge funds own 21.09% of the company’s stock.

Skye Bioscience Price Performance

NASDAQ SKYE opened at $1.98 on Monday. Skye Bioscience, Inc. has a fifty-two week low of $1.14 and a fifty-two week high of $12.11. The stock’s 50-day moving average is $1.99 and its two-hundred day moving average is $2.00. The firm has a market cap of $61.33 million, a P/E ratio of -2.41 and a beta of 1.74.

Skye Bioscience (NASDAQ:SKYE) last posted its earnings results on Thursday, May 8th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.03. On average, equities analysts expect that Skye Bioscience, Inc. will post -1.04 EPS for the current year.

Wall Street Analyst Weigh In

SKYE has been the topic of a number of research reports. William Blair reaffirmed an “outperform” rating on shares of Skye Bioscience in a research note on Tuesday, May 20th. Craig Hallum dropped their price target on shares of Skye Bioscience from $18.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Skye Bioscience has an average rating of “Buy” and an average price target of $16.60.

Skye Bioscience 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.