Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Update

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totaling 312,062 shares, a growth of 205.2% from the November 30th total of 102,238 shares. Approximately 17.3% of the company’s stock are short sold. Based on an average daily volume of 1,571,540 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 1,571,540 shares, the days-to-cover ratio is currently 0.2 days. Approximately 17.3% of the company’s stock are short sold.

Psyence Biomedical Stock Performance

Psyence Biomedical stock opened at $0.93 on Friday. The stock has a 50-day moving average of $2.14 and a two-hundred day moving average of $3.57. The stock has a market cap of $1.74 million, a PE ratio of 0.23 and a beta of 0.28. Psyence Biomedical has a one year low of $0.80 and a one year high of $19.04.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Psyence Biomedical in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Psyence Biomedical stock. Virtu Financial LLC purchased a new stake in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned about 0.55% of Psyence Biomedical at the end of the most recent quarter. 77.44% of the stock is owned by institutional investors.

Psyence Biomedical Company Profile

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.