Psyence Biomedical (NASDAQ:PBM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Psyence Biomedical (NASDAQ:PBM) to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Psyence Biomedical in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Psyence Biomedical Stock Down 1.6%

Shares of NASDAQ:PBM opened at $5.08 on Friday. The stock has a market cap of $11.65 million, a PE ratio of 0.20 and a beta of 1.68. The company’s fifty day moving average is $4.57 and its 200 day moving average is $4.14. Psyence Biomedical has a 52 week low of $1.92 and a 52 week high of $28.13.

Psyence Biomedical Company Profile

Psyence Biomedical Ltd. (NASDAQ: PBM) is a clinical-stage biotechnology company focused on developing psychedelic-based therapeutics for mental health conditions. The company’s research centers on naturally derived psilocybin and its potential use in medically supervised treatment programs.

Its lead development program is designed to evaluate psilocybin-assisted therapy for adjustment disorder in patients with cancer. Psyence Biomedical’s activities include drug development, clinical research and work with external partners to advance psychedelic medicines toward potential regulatory approval and commercialization.

The company became publicly traded on Nasdaq in February 2024 following a business combination with Newcourt Acquisition Corp.