Short Interest in Silo Pharma, Inc. (NASDAQ:SILO) Decreases By 94.8%

Silo Pharma, Inc. (NASDAQ:SILO) was the recipient of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 16,790 shares, a decrease of 94.8% from the May 31st total of 322,795 shares. Currently, 1.6% of the company’s stock are sold short. Based on an average daily trading volume, of 41,247 shares, the days-to-cover ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Trading of Silo Pharma

A number of hedge funds have recently bought and sold shares of SILO. AdvisorShares Investments LLC lifted its stake in shares of Silo Pharma by 10.8% in the first quarter. AdvisorShares Investments LLC now owns 663,965 shares of the company’s stock valued at $239,000 after buying an additional 64,458 shares during the period. DRW Securities LLC acquired a new position in Silo Pharma in the fourth quarter worth about $113,000. Geode Capital Management LLC lifted its stake in Silo Pharma by 134.6% during the fourth quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock worth $32,000 after purchasing an additional 53,309 shares during the period. Anson Funds Management LP acquired a new stake in Silo Pharma during the third quarter valued at approximately $657,000. Finally, Virtu Financial LLC acquired a new stake in Silo Pharma during the third quarter valued at approximately $74,000. 5.58% of the stock is owned by institutional investors.

Silo Pharma Price Performance

Shares of NASDAQ SILO traded up $0.25 during trading hours on Friday, hitting $6.01. 11,852 shares of the company’s stock were exchanged, compared to its average volume of 45,487. Silo Pharma has a 1-year low of $3.32 and a 1-year high of $15.15. The stock has a market capitalization of $6.49 million, a price-to-earnings ratio of -0.93 and a beta of 0.63. The company’s 50-day moving average price is $6.41 and its 200-day moving average price is $5.77.

Silo Pharma (NASDAQ:SILO) last announced its earnings results on Friday, March 27th. The company reported $0.45 earnings per share for the quarter. The firm had revenue of $0.02 million during the quarter. Silo Pharma had a negative return on equity of 88.40% and a negative net margin of 6,726.39%.

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.