Silo Pharma (NASDAQ:SILO) Trading Down 2% – Should You Sell?

Silo Pharma, Inc. (NASDAQ:SILO)’s share price was down 2% during trading on Thursday . The stock traded as low as $4.77 and last traded at $4.78. Approximately 36,179 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 424,250 shares. The stock had previously closed at $4.88.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Silo Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Silo Pharma has a consensus rating of “Sell”.

Silo Pharma Stock Performance

The firm has a market capitalization of $5.49 million, a P/E ratio of -0.75 and a beta of 0.63. The firm has a 50 day moving average price of $5.97 and a two-hundred day moving average price of $5.74.

Hedge Funds Weigh In On Silo Pharma

A number of institutional investors have recently bought and sold shares of SILO. AdvisorShares Investments LLC raised its holdings in Silo Pharma by 10.8% during the 1st quarter. AdvisorShares Investments LLC now owns 663,965 shares of the company’s stock worth $239,000 after buying an additional 64,458 shares during the period. DRW Securities LLC purchased a new position in shares of Silo Pharma in the fourth quarter worth approximately $113,000. Virtu Financial LLC purchased a new position in shares of Silo Pharma in the third quarter worth approximately $74,000. Finally, Geode Capital Management LLC raised its holdings in shares of Silo Pharma by 134.6% during 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. Hedge funds and other institutional investors own 5.58% of the company’s stock.

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.