Silo Pharma, Inc. (NASDAQ:SILO) Sees Large Decline in Short Interest

Silo Pharma, Inc. (NASDAQ:SILO) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totaling 22,078 shares, a decline of 36.7% from the September 30th total of 34,870 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average daily volume of 156,498 shares, the days-to-cover ratio is currently 0.1 days.

Silo Pharma Price Performance

NASDAQ SILO traded up $0.04 on Tuesday, reaching $1.25. 4,009 shares of the company’s stock traded hands, compared to its average volume of 171,863. Silo Pharma has a 12 month low of $1.10 and a 12 month high of $10.43. The stock has a 50-day simple moving average of $1.73 and a 200 day simple moving average of $4.53. The stock has a market cap of $1.99 million, a PE ratio of -0.29 and a beta of 0.81.

Silo Pharma (NASDAQ:SILO) last announced 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 net margin of 6,726.39% and a negative return on equity of 81.75%.

Hedge Funds Weigh In On Silo Pharma

An institutional investor recently raised its stake in Silo Pharma stock. AdvisorShares Investments LLC increased its position in Silo Pharma, Inc. (NASDAQ:SILO) by 10.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 663,965 shares of the company’s stock after purchasing an additional 64,458 shares during the period. AdvisorShares Investments LLC owned 4.08% of Silo Pharma worth $239,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock has a consensus rating of “Sell”.

Silo Pharma Company Profile

Silo Pharma, Inc is a development-stage biopharmaceutical company focused on developing therapeutics that combine traditional pharmaceutical approaches with psychedelic research. The company’s programs are intended to address conditions involving pain, inflammation, neurological disorders, and mental health.

Silo Pharma’s pipeline has included SP-26, an investigational ketamine-based implant designed to provide sustained drug delivery and being explored for conditions such as fibromyalgia.