Silo Pharma (NASDAQ:SILO) Shares Up 24% – What’s Next?

Shares of Silo Pharma, Inc. (NASDAQ:SILO) shot up 24% during mid-day trading on Tuesday . The stock traded as high as $0.3487 and last traded at $0.3487. 28,489,686 shares were traded during mid-day trading, an increase of 2,775% from the average session volume of 990,790 shares. The stock had previously closed at $0.2812.

Analyst Upgrades and Downgrades

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

Silo Pharma Trading Up 24.0%

The firm has a market cap of $4.64 million, a PE ratio of -0.37 and a beta of 0.44. The firm has a 50 day moving average price of $0.35 and a 200-day moving average price of $0.50.

Institutional Investors Weigh In On Silo Pharma

Several institutional investors have recently modified their holdings of SILO. DRW Securities LLC acquired a new stake in Silo Pharma in the fourth quarter valued at $113,000. AdvisorShares Investments LLC lifted its stake in Silo Pharma by 64.3% during the fourth quarter. AdvisorShares Investments LLC now owns 599,507 shares of the company’s stock worth $204,000 after purchasing an additional 234,629 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Silo Pharma by 134.6% in the fourth quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock valued at $32,000 after purchasing an additional 53,309 shares in the last quarter. Anson Funds Management LP purchased a new position in Silo Pharma in the third quarter valued at approximately $657,000. Finally, Virtu Financial LLC acquired a new stake in Silo Pharma during the third quarter worth approximately $74,000. 5.58% of the stock is owned by hedge funds and other institutional investors.

About Silo Pharma

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.