Psyence Biomedical Shares Set to Reverse Split on Tuesday, January 20th (NASDAQ:PBM)

Psyence Biomedical Ltd. (NASDAQ:PBMFree Report) shares are set to reverse split on the morning of Tuesday, January 20th. The 1-6.25 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Monday, January 19th.

Psyence Biomedical Stock Performance

Shares of NASDAQ:PBM opened at $0.67 on Friday. The company has a market cap of $1.25 million, a P/E ratio of 0.17 and a beta of 0.32. The stock’s 50-day moving average is $1.48 and its 200-day moving average is $3.18. Psyence Biomedical has a 52-week low of $0.65 and a 52-week high of $17.44.

Analysts Set New Price Targets

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

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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:PBMFree Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned 0.55% of Psyence Biomedical as of its most recent SEC filing. Institutional investors own 77.44% of the company’s stock.

About Psyence Biomedical

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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.

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