Silo Pharma, Inc. (NASDAQ:SILO) Sees Significant Decrease in Short Interest

Silo Pharma, Inc. (NASDAQ:SILO) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 1,030,000 shares, a decrease of 28.5% from the September 30th total of 1,440,000 shares. Approximately 8.5% of the shares of the company are sold short. Based on an average trading volume of 1,350,000 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 1,350,000 shares, the short-interest ratio is presently 0.8 days. Approximately 8.5% of the shares of the company are sold short.

Institutional Investors Weigh In On Silo Pharma

A hedge fund recently raised its stake in Silo Pharma stock. AdvisorShares Investments LLC increased its position in Silo Pharma, Inc. (NASDAQ:SILO) by 48.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 184,236 shares of the company’s stock after acquiring an additional 60,000 shares during the quarter. AdvisorShares Investments LLC owned about 4.11% of Silo Pharma worth $116,000 at the end of the most recent quarter. Institutional investors and hedge funds own 5.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Silo Pharma to a “sell” rating in a research note on Saturday, July 12th. Weiss Ratings restated a “sell (e+)” rating on shares of Silo Pharma in a research note on Tuesday, October 14th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Silo Pharma presently has a consensus rating of “Sell”.

Silo Pharma Stock Down 3.8%

Shares of NASDAQ:SILO opened at $0.50 on Wednesday. The firm’s 50 day moving average price is $0.65 and its 200-day moving average price is $0.66. Silo Pharma has a twelve month low of $0.40 and a twelve month high of $3.37. The stock has a market capitalization of $6.66 million, a PE ratio of -0.48 and a beta of 0.33.

Silo Pharma (NASDAQ:SILO) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($0.19) earnings per share for the quarter. Silo Pharma had a negative return on equity of 94.39% and a negative net margin of 6,798.61%.The business had revenue of $0.02 million during the quarter.

About Silo Pharma

Silo Pharma Inc operates as a developmental stage biopharmaceutical company. The company is developing therapeutics that address underserved conditions, including stress-induced psychiatric disorders, chronic pain conditions, and central nervous system (CNS) diseases. It focuses on developing traditional therapies and psychedelic treatments in formulations and drug delivery systems.