Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Update

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a large decrease in short interest in the month of March. As of March 13th, there was short interest totaling 73,767 shares, a decrease of 48.1% from the February 26th total of 142,080 shares. Approximately 7.5% of the shares of the stock are short sold. Based on an average trading volume of 21,691 shares, the short-interest ratio is presently 3.4 days.

Psyence Biomedical Price Performance

Psyence Biomedical stock opened at $2.43 on Thursday. The firm has a market capitalization of $2.48 million, a PE ratio of 0.10 and a beta of 0.36. Psyence Biomedical has a 52 week low of $1.92 and a 52 week high of $74.94. The firm’s 50-day simple moving average is $3.12 and its 200 day simple moving average is $10.92.

Analyst Ratings Changes

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

Institutional Trading of Psyence Biomedical

A hedge fund recently bought a new stake in Psyence Biomedical stock. Virtu Financial LLC purchased a new stake in Psyence Biomedical Ltd. (NASDAQ:PBM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned about 0.55% of Psyence Biomedical at the end of the most recent reporting period. Institutional investors and hedge funds own 77.44% of the company’s stock.

About Psyence Biomedical

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.