Short Interest in Psyence Biomedical Ltd. (NASDAQ:PBM) Grows By 116.0%

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 145,422 shares, an increase of 116.0% from the January 15th total of 67,332 shares. Approximately 14.8% of the company’s shares are short sold. Based on an average trading volume of 618,782 shares, the short-interest ratio is currently 0.2 days. Based on an average trading volume of 618,782 shares, the short-interest ratio is currently 0.2 days. Approximately 14.8% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Psyence Biomedical in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Institutional Investors Weigh In On Psyence Biomedical

A hedge fund recently bought a new stake in Psyence Biomedical stock. Virtu Financial LLC acquired a new position in Psyence Biomedical Ltd. (NASDAQ:PBM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned 0.55% of Psyence Biomedical as of its most recent SEC filing. Hedge funds and other institutional investors own 77.44% of the company’s stock.

Psyence Biomedical Stock Up 7.1%

Shares of PBM stock traded up $0.20 during mid-day trading on Friday, reaching $3.01. 20,528 shares of the company’s stock traded hands, compared to its average volume of 275,423. The company’s 50-day moving average price is $5.68 and its 200-day moving average price is $15.27. The company has a market cap of $3.07 million, a P/E ratio of 0.12 and a beta of 0.32. Psyence Biomedical has a 12 month low of $2.54 and a 12 month high of $74.94.

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.