Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Down 40.4% in February

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 86,725 shares, a decrease of 40.4% from the January 29th total of 145,422 shares. Currently, 8.8% of the shares of the company are short sold. Based on an average daily trading volume, of 657,517 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 657,517 shares, the short-interest ratio is currently 0.1 days. Currently, 8.8% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Psyence Biomedical stock. Virtu Financial LLC acquired a new stake in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned approximately 0.55% of Psyence Biomedical at the end of the most recent quarter. 77.44% of the stock is owned by institutional investors.

Psyence Biomedical Stock Performance

Shares of PBM stock opened at $2.54 on Friday. The firm has a fifty day moving average of $4.08 and a 200-day moving average of $13.16. The stock has a market cap of $2.59 million, a price-to-earnings ratio of 0.10 and a beta of 0.32. Psyence Biomedical has a 52-week low of $1.92 and a 52-week high of $74.94.

Psyence Biomedical Company Profile

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.