Silo Pharma, Inc. (NASDAQ:SILO) Sees Significant Decrease in Short Interest

Silo Pharma, Inc. (NASDAQ:SILO) saw a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 322,795 shares, a decline of 55.7% from the May 14th total of 728,373 shares. Based on an average daily trading volume, of 222,602 shares, the days-to-cover ratio is presently 1.5 days. Approximately 34.9% of the shares of the company are sold short.

Analysts Set New Price Targets

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

Institutional Trading of Silo Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the company. Anson Funds Management LP bought a new stake in shares of Silo Pharma during the third quarter valued at approximately $657,000. AdvisorShares Investments LLC increased its position 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 valued at $239,000 after purchasing an additional 64,458 shares during the period. DRW Securities LLC bought a new stake in shares of Silo Pharma during the fourth quarter valued at approximately $113,000. Virtu Financial LLC bought a new stake in Silo Pharma in the third quarter valued at $74,000. Finally, Geode Capital Management LLC grew its position 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 acquiring an additional 53,309 shares during the period. 5.58% of the stock is currently owned by institutional investors.

Silo Pharma Stock Performance

Shares of SILO traded up $0.19 on Friday, reaching $6.63. 19,675 shares of the stock traded hands, compared to its average volume of 28,055. Silo Pharma has a 12 month low of $3.32 and a 12 month high of $15.15. The stock’s 50-day moving average price is $6.43 and its 200-day moving average price is $5.81.

Silo Pharma (NASDAQ:SILO) last released its quarterly earnings data on Friday, March 27th. The company reported $0.45 earnings per share (EPS) for the quarter. The business had revenue of $0.02 million for 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.