Psyence Biomedical Ltd. (NASDAQ:PBM) Sees Significant Decrease in Short Interest

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 14,380 shares, a decrease of 61.6% from the July 30th total of 37,423 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average trading volume of 42,408 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

PBM has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Psyence Biomedical in a research report on Friday, July 17th. Wall Street Zen raised shares of Psyence Biomedical to a “hold” rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Psyence Biomedical Price Performance

NASDAQ PBM traded down $0.10 on Friday, reaching $4.21. 14,690 shares of the company’s stock traded hands, compared to its average volume of 97,655. The stock has a market cap of $9.64 million, a PE ratio of 0.17 and a beta of 1.66. Psyence Biomedical has a 12 month low of $1.92 and a 12 month high of $34.63. The stock has a 50-day simple moving average of $3.32 and a 200 day simple moving average of $3.64.

Psyence Biomedical (NASDAQ:PBM) last announced its quarterly earnings data on Monday, June 22nd. The company reported ($0.41) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Psyence Biomedical stock. Virtu Financial LLC bought a new stake in Psyence Biomedical Ltd. (NASDAQ:PBM) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 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.

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.