Silo Pharma, Inc. (NASDAQ:SILO) Short Interest Update

Silo Pharma, Inc. (NASDAQ:SILO) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 33,208 shares, a decline of 60.0% from the August 15th total of 82,948 shares. Based on an average daily volume of 206,120 shares, the days-to-cover ratio is currently 0.2 days. Currently, 2.2% of the shares of the stock are sold short.

Silo Pharma Price Performance

NASDAQ SILO opened at $2.10 on Friday. The stock’s 50-day simple moving average is $3.82 and its two-hundred day simple moving average is $5.25. Silo Pharma has a twelve month low of $2.05 and a twelve month high of $15.15. The company has a market capitalization of $3.34 million, a price-to-earnings ratio of -0.48 and a beta of 0.66.

Silo Pharma (NASDAQ:SILO) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.44). Silo Pharma had a negative return on equity of 81.75% and a negative net margin of 6,726.39%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Trading of Silo Pharma

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake 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 worth $32,000 after acquiring an additional 53,309 shares in the last quarter. AdvisorShares Investments LLC boosted its stake in shares of Silo Pharma by 10.8% in the 1st 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 in the last quarter. Virtu Financial LLC purchased a new stake in shares of Silo Pharma in the 3rd quarter valued at $74,000. Finally, DRW Securities LLC purchased a new stake in shares of Silo Pharma in the 4th quarter valued at $113,000. Hedge funds and other institutional investors own 5.58% of the company’s stock.

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.