Bank of America Corp DE Acquires 10,696 Shares of Skye Bioscience, Inc. (NASDAQ:SKYE)

Bank of America Corp DE increased its holdings in shares of Skye Bioscience, Inc. (NASDAQ:SKYE) by 37.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,257 shares of the company’s stock after acquiring an additional 10,696 shares during the period. Bank of America Corp DE owned about 0.13% of Skye Bioscience worth $111,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Wells Fargo & Company MN grew its position in Skye Bioscience by 49.0% during the 4th 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. Virtu Financial LLC acquired a new position in Skye Bioscience during the 4th quarter worth $29,000. Charles Schwab Investment Management Inc. lifted its holdings in Skye Bioscience by 20.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 62,363 shares of the company’s stock worth $176,000 after buying an additional 10,707 shares in the last quarter. Barclays PLC lifted its holdings in Skye Bioscience by 20.3% during the 4th quarter. Barclays PLC now owns 69,620 shares of the company’s stock worth $198,000 after buying an additional 11,731 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Skye Bioscience by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 405,694 shares of the company’s stock worth $1,148,000 after buying an additional 19,901 shares in the last quarter. 21.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Skye Bioscience Stock Up 3.4%

SKYE stock opened at $2.12 on Tuesday. The business’s fifty day moving average is $2.11 and its 200-day moving average is $1.94. The company has a market cap of $65.67 million, a P/E ratio of -2.59 and a beta of 1.69. Skye Bioscience, Inc. has a twelve month low of $1.14 and a twelve month high of $11.10.

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

About Skye Bioscience

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.