Psyence Biomedical Ltd. (NASDAQ:PBM) Sees Significant Decrease in Short Interest

Psyence Biomedical Ltd. (NASDAQ:PBM) was the recipient of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 14,380 shares, a drop of 61.6% from the July 30th total of 37,423 shares. Based on an average daily trading volume, of 42,408 shares, the short-interest ratio is currently 0.3 days. Approximately 0.7% of the company’s shares are short sold.

Psyence Biomedical Stock Performance

Psyence Biomedical stock traded down $0.12 during midday trading on Friday, reaching $4.19. The stock had a trading volume of 11,606 shares, compared to its average volume of 1,091,738. The stock’s 50-day simple moving average is $3.29 and its 200 day simple moving average is $3.63. Psyence Biomedical has a twelve month low of $1.92 and a twelve month high of $34.63. The stock has a market capitalization of $9.60 million, a PE ratio of 0.17 and a beta of 1.66.

Psyence Biomedical (NASDAQ:PBM) last announced its quarterly earnings results on Monday, June 22nd. The company reported ($0.41) EPS for the quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Psyence Biomedical in a research note on Friday, July 17th. Wall Street Zen raised shares of Psyence Biomedical to a “hold” rating in a research report on Saturday, June 6th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

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

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.