Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Down 40.8% in January

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 67,332 shares, a drop of 40.8% from the December 31st total of 113,708 shares. Approximately 6.8% of the shares of the company are short sold. Based on an average trading volume of 305,635 shares, the short-interest ratio is currently 0.2 days. Based on an average trading volume of 305,635 shares, the short-interest ratio is currently 0.2 days. Approximately 6.8% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Psyence Biomedical currently 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 position in Psyence Biomedical Ltd. (NASDAQ:PBM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned 0.55% of Psyence Biomedical at the end of the most recent quarter. Institutional investors and hedge funds own 77.44% of the company’s stock.

Psyence Biomedical Stock Performance

NASDAQ:PBM traded down $0.05 during mid-day trading on Friday, reaching $0.67. 324,449 shares of the company’s stock were exchanged, compared to its average volume of 480,160. The business’s fifty day simple moving average is $6.36 and its two-hundred day simple moving average is $17.75. Psyence Biomedical has a one year low of $0.61 and a one year high of $12.80. The firm has a market capitalization of $684,740.00, a PE ratio of 0.17 and a beta of 0.32.

About Psyence Biomedical

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.