Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Down 63.6% in December

Psyence Biomedical Ltd. (NASDAQ:PBM) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 113,708 shares, a drop of 63.6% from the December 15th total of 312,062 shares. Based on an average daily volume of 3,393,780 shares, the short-interest ratio is presently 0.0 days. Approximately 6.3% of the company’s shares are sold short. Approximately 6.3% of the company’s shares are sold short. Based on an average daily volume of 3,393,780 shares, the short-interest ratio is presently 0.0 days.

Psyence Biomedical Trading Down 0.7%

Shares of PBM stock opened at $0.79 on Tuesday. The company’s fifty day moving average price is $1.59 and its 200-day moving average price is $3.25. The stock has a market cap of $1.49 million, a PE ratio of 0.20 and a beta of 0.32. Psyence Biomedical has a 12 month low of $0.66 and a 12 month high of $18.00.

Institutional Investors Weigh In On Psyence Biomedical

A hedge fund recently bought a new stake in Psyence Biomedical stock. Virtu Financial LLC purchased a new stake in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned approximately 0.55% of Psyence Biomedical at the end of the most recent reporting period. 77.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

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.