Psyence Biomedical (NASDAQ:PBM) Upgraded by Wall Street Zen to “Hold” Rating

Psyence Biomedical (NASDAQ:PBM) was upgraded by research analysts at Wall Street Zen to a “hold” rating in a note issued to investors on Saturday.

Psyence Biomedical Trading Down 2.2%

Shares of PBM stock opened at $4.54 on Friday. The stock has a 50 day simple moving average of $4.30 and a two-hundred day simple moving average of $9.61. Psyence Biomedical has a fifty-two week low of $2.92 and a fifty-two week high of $699.19.

Institutional Investors Weigh In On Psyence Biomedical

Several hedge funds and other institutional investors have recently modified their holdings of the company. Harraden Circle Investments LLC bought a new stake in shares of Psyence Biomedical during the fourth quarter valued at approximately $385,000. Virtu Financial LLC bought a new stake in shares of Psyence Biomedical during the fourth quarter valued at approximately $27,000. Finally, Essential Planning LLC. bought a new stake in shares of Psyence Biomedical during the fourth quarter valued at approximately $163,000. Institutional investors own 77.44% of the company’s stock.

About Psyence Biomedical

Psyence Biomedical Ltd. engages in the development of botanical psilocybin-based psychedelic medicines. It also evaluates natural psilocybin for the treatment of adjustment disorder in patients with an incurable cancer diagnosis in a palliative care context. The company’s lead product candidate is PEX010, which is in Phase IIb clinical study, a capsule containing naturally sourced psilocybin for treatment of anxiety and depression, including associated ailments, such as post-traumatic stress disorder, stress, grief, and adjustment disorder in the context of palliative care.