Skye Bioscience (NASDAQ:SKYE) Stock Price Down 5.9% – Here’s Why

Skye Bioscience, Inc. (NASDAQ:SKYE) shares fell 5.9% during mid-day trading on Thursday . The company traded as low as $0.9402 and last traded at $0.96. 362,253 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 594,595 shares. The stock had previously closed at $1.02.

Key Skye Bioscience News

Here are the key news stories impacting Skye Bioscience this week:

• Neutral Sentiment: News coverage noted a recent intraday decline in SKYE shares (reports of a ~5.9% drop), underscoring short‑term volatility in the stock. Skye Bioscience (NASDAQ:SKYE) Stock Price Down 5.9% – Here’s What Happened
• Negative Sentiment: Rosen Law Firm issued a deadline notice reminding purchasers of SKYE of the Jan. 16, 2026 lead‑plaintiff deadline for the class action covering Nov. 4, 2024–Oct. 3, 2025 — signaling active litigation and potential claim aggregation. SKYE Deadline: SKYE Investors Have Opportunity to Lead Skye Bioscience, Inc. Securities Fraud Lawsuit
• Negative Sentiment: Faruqi & Faruqi, LLP is investigating claims and urging investors who purchased SKYE during the class period to contact the firm before the Jan. 16 deadline — another sign of competing counsel and ongoing litigation momentum. INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Skye Bioscience
• Negative Sentiment: Several other national plaintiffs’ firms (Schall Law Firm, Berger Montague, Bragar Eagel & Squire, The Gross Law Firm) have issued similar notices seeking lead plaintiffs — indicating widespread lawyer solicitation and reinforcing litigation overhang. Representative notices and reminders are linked below. SKYE DEADLINE: ROSEN, A LEADING LAW FIRM, Encourages Skye Bioscience, Inc. Investors to Secure Counsel Before Important January 16 Deadline
• Negative Sentiment: Schall Law Firm reminder about the class action and the Jan. 16 deadline — another indicator that the case is active and that settlements or rulings could materially affect shareholder value. SKYE Investors Have Opportunity to Lead Skye Bioscience Inc Securities Fraud Lawsuit with the Schall Law Firm
• Negative Sentiment: Berger Montague and Bragar Eagel & Squire issued final‑deadline alerts to shareholders — these firm notices often precede consolidation of lead counsel and increased litigation activity (discovery, motions), which can pressure the stock. DEADLINE TOMORROW: Berger Montague Advises Skye Bioscience Inc. Investors to Inquire
• Negative Sentiment: The Gross Law Firm and related outlets have been advising shareholders who lost money to contact counsel about the pending class action — continued publicity can sustain negative sentiment and trading volatility. SKYE BIOSCIENCE FINAL DEADLINE ALERT: Bragar Eagel & Squire, P.C. Urgently Reminds Skye Bioscience Inc Stockholders

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SKYE shares. Craig Hallum lowered shares of Skye Bioscience from a “buy” rating to a “hold” rating and set a $2.00 target price on the stock. in a research report on Monday, October 6th. Cantor Fitzgerald downgraded shares of Skye Bioscience from an “overweight” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a report on Monday, October 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Skye Bioscience in a research note on Monday, December 29th. Citigroup reissued a “market outperform” rating on shares of Skye Bioscience in a research report on Monday, January 5th. Finally, HC Wainwright started coverage on Skye Bioscience in a report on Tuesday, September 30th. They issued a “buy” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.80.

Skye Bioscience Trading Up 3.9%

The firm has a market capitalization of $32.06 million, a price-to-earnings ratio of -0.78 and a beta of 2.68. The stock has a fifty day moving average price of $1.10 and a 200-day moving average price of $2.47.

Skye Bioscience (NASDAQ:SKYE) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.01. On average, equities analysts expect that Skye Bioscience, Inc. will post -1.04 EPS for the current year.

Hedge Funds Weigh In On Skye Bioscience

Institutional investors have recently added to or reduced their stakes in the company. Capital Advisors Inc. OK bought a new stake in Skye Bioscience during the third quarter worth about $39,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Skye Bioscience in the 2nd quarter worth approximately $42,000. Millington Financial Advisors LLC acquired a new position in shares of Skye Bioscience in the 2nd quarter worth approximately $44,000. Tower Research Capital LLC TRC grew its position in Skye Bioscience by 121.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,927 shares of the company’s stock worth $46,000 after acquiring an additional 5,989 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in Skye Bioscience during the 3rd quarter valued at $53,000. 21.09% of the stock is owned by institutional investors.

Skye Bioscience Company Profile

Skye Bioscience, Inc is a clinical-stage biotechnology company focused on the development of novel, selective cannabinoid type 1 (CB1) receptor modulators for the treatment of ocular diseases. Headquartered in Sunnyvale, California, Skye Bioscience leverages proprietary chemistry and formulation expertise to design and optimize compounds with high potency, tissue selectivity and favorable drug-like properties. The company’s lead product candidate is being evaluated for the treatment of glaucoma and other ophthalmic conditions characterized by elevated intraocular pressure.

Skye Bioscience’s pipeline centers on synthetic cannabinoids engineered to avoid central nervous system side effects commonly associated with traditional cannabinoid therapies.