Silo Pharma (NASDAQ:SILO) Stock Price Up 3.6% – Still a Buy?

Silo Pharma, Inc. (NASDAQ:SILO) shares traded up 3.6% during trading on Thursday . The stock traded as high as $0.3754 and last traded at $0.3689. 45,852 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 142,715 shares. The stock had previously closed at $0.3562.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Silo Pharma in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Silo Pharma Stock Performance

The business’s 50-day moving average price is $0.40 and its 200 day moving average price is $0.55. The stock has a market capitalization of $4.91 million, a PE ratio of -0.39 and a beta of 0.44.

Silo Pharma (NASDAQ:SILO) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.12) earnings per share for the quarter. The company had revenue of $0.02 million during the quarter. Silo Pharma had a negative return on equity of 107.03% and a negative net margin of 7,050.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Silo Pharma during the third quarter valued at about $74,000. AdvisorShares Investments LLC lifted its position in Silo Pharma by 48.3% in the 2nd quarter. AdvisorShares Investments LLC now owns 184,236 shares of the company’s stock worth $116,000 after buying an additional 60,000 shares during the last quarter. Finally, Anson Funds Management LP bought a new stake in Silo Pharma in the 3rd quarter worth approximately $657,000. 5.58% of the stock is currently owned by hedge funds and other institutional investors.

Silo Pharma Company Profile

Silo Pharma, Inc (NASDAQ:SILO) is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel psychedelic and related synthetic therapies. Headquartered in New York City, the company applies proprietary chemistry and targeted drug delivery approaches to advance candidates that address critical unmet needs across oncology, neurology and mental health.

The company’s preclinical and early-stage clinical pipeline comprises several programs that explore serotonin receptor modulators, synthetic analogs of classic psychoactive compounds and neuroprotective agents.