Psyence Biomedical Ltd. (NASDAQ:PBM) Sees Large Increase in Short Interest

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 142,080 shares, a growth of 63.8% from the February 12th total of 86,725 shares. Based on an average daily trading volume, of 255,898 shares, the days-to-cover ratio is presently 0.6 days. Approximately 14.4% of the shares of the stock are sold short. Approximately 14.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 255,898 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Investors Weigh In On Psyence Biomedical

A hedge fund recently bought a new stake in Psyence Biomedical stock. Virtu Financial LLC purchased a new stake in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned about 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.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Psyence Biomedical Price Performance

PBM stock remained flat at $2.46 during midday trading on Friday. The company’s stock had a trading volume of 3,135 shares, compared to its average volume of 258,058. The firm has a market cap of $2.51 million, a price-to-earnings ratio of 0.10 and a beta of 0.36. The stock’s 50-day simple moving average is $3.54 and its 200 day simple moving average is $11.95. Psyence Biomedical has a fifty-two week low of $1.92 and a fifty-two week 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.