Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Up 71.1% in May

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 71,272 shares, a growth of 71.1% from the April 30th total of 41,661 shares. Based on an average trading volume of 232,272 shares, the short-interest ratio is currently 0.3 days. Approximately 7.2% of the shares of the stock are short sold.

Psyence Biomedical Stock Performance

Shares of NASDAQ PBM traded up $0.47 during trading hours on Wednesday, hitting $4.42. The company’s stock had a trading volume of 266,405 shares, compared to its average volume of 1,671,996. Psyence Biomedical has a 12 month low of $1.92 and a 12 month high of $74.94. The stock has a market cap of $4.51 million, a price-to-earnings ratio of 0.17 and a beta of 1.64. The business has a 50-day simple moving average of $4.59 and a 200-day simple moving average of $5.62.

Institutional Investors Weigh In On Psyence Biomedical

An institutional investor recently bought a new position in Psyence Biomedical stock. Virtu Financial LLC bought a new stake in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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 filing with the Securities and Exchange Commission (SEC). 77.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Psyence Biomedical in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

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.