Short Interest in Silo Pharma, Inc. (NASDAQ:SILO) Expands By 795.6%

Silo Pharma, Inc. (NASDAQ:SILO) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totaling 155,110 shares, an increase of 795.6% from the June 30th total of 17,320 shares. Approximately 14.3% of the shares of the stock are sold short. Based on an average daily volume of 708,397 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Silo Pharma

Hedge funds have recently added to or reduced their stakes in the stock. AdvisorShares Investments LLC grew its stake in shares of Silo Pharma by 10.8% during the first quarter. AdvisorShares Investments LLC now owns 663,965 shares of the company’s stock worth $239,000 after buying an additional 64,458 shares during the last quarter. DRW Securities LLC bought a new position in shares of Silo Pharma in the 4th quarter valued at $113,000. Geode Capital Management LLC boosted its holdings in shares of Silo Pharma by 134.6% during the 4th quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock valued at $32,000 after acquiring an additional 53,309 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Silo Pharma during the 3rd quarter valued at $74,000. Institutional investors and hedge funds own 5.58% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Silo Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Silo Pharma currently has an average rating of “Sell”.

Silo Pharma Stock Performance

SILO opened at $4.47 on Monday. The company’s 50 day moving average is $5.84 and its 200-day moving average is $5.73. Silo Pharma has a 1-year low of $3.32 and a 1-year high of $15.15. The company has a market cap of $5.05 million, a P/E ratio of -0.69 and a beta of 0.63.

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.