Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Down 40.4% in February

Psyence Biomedical Ltd. (NASDAQ:PBM) was the recipient of a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 86,725 shares, a drop of 40.4% from the January 29th total of 145,422 shares. Approximately 8.8% of the company’s stock are sold short. Based on an average daily volume of 657,517 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 657,517 shares, the short-interest ratio is currently 0.1 days. Approximately 8.8% of the company’s stock are sold short.

Psyence Biomedical Trading Down 3.1%

NASDAQ PBM opened at $2.54 on Friday. Psyence Biomedical has a 1 year low of $1.92 and a 1 year high of $74.94. The company has a fifty day simple moving average of $4.08 and a 200 day simple moving average of $13.16. The company has a market cap of $2.59 million, a P/E ratio of 0.10 and a beta of 0.32.

Hedge Funds Weigh In On Psyence Biomedical

A hedge fund recently raised its stake in Psyence Biomedical stock. Virtu Financial LLC raised its stake in Psyence Biomedical Ltd. (NASDAQ:PBM) by 258.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,042 shares of the company’s stock after purchasing an additional 26,717 shares during the period. Virtu Financial LLC owned approximately 3.63% of Psyence Biomedical worth $28,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 77.44% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Psyence Biomedical Company Profile

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.