Silo Pharma, Inc. (NASDAQ:SILO) Short Interest Up 795.6% in July

Silo Pharma, Inc. (NASDAQ:SILO) was the recipient of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 155,110 shares, an increase of 795.6% from the June 30th total of 17,320 shares. Approximately 14.3% of the shares of the company are sold short. Based on an average daily trading volume, of 708,397 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Silo Pharma during the third quarter worth $74,000. Geode Capital Management LLC boosted its position in shares of 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. AdvisorShares Investments LLC grew its stake in shares of Silo Pharma by 64.3% in the fourth quarter. AdvisorShares Investments LLC now owns 599,507 shares of the company’s stock valued at $204,000 after acquiring an additional 234,629 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in shares of Silo Pharma in the fourth quarter valued at about $113,000. Institutional investors own 5.58% of the company’s stock.

Silo Pharma Trading Up 0.2%

Shares of NASDAQ SILO opened at $4.47 on Friday. The firm has a market cap of $5.05 million, a P/E ratio of -0.69 and a beta of 0.63. The business’s 50 day moving average is $5.84 and its 200-day moving average is $5.72. Silo Pharma has a 1-year low of $3.32 and a 1-year high of $15.15.

About Silo Pharma

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.