Silo Pharma, Inc. (NASDAQ:SILO) Sees Significant Decrease in Short Interest

Silo Pharma, Inc. (NASDAQ:SILO) saw a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 319,975 shares, a decline of 45.6% from the February 26th total of 588,548 shares. Approximately 2.5% of the company’s shares are sold short. Based on an average daily volume of 234,469 shares, the days-to-cover ratio is presently 1.4 days.

Silo Pharma Stock Down 10.3%

NASDAQ:SILO traded down $0.04 on Friday, reaching $0.34. 144,225 shares of the company’s stock were exchanged, compared to its average volume of 237,238. The firm has a market capitalization of $4.53 million, a price-to-earnings ratio of -0.36 and a beta of 0.39. Silo Pharma has a 52-week low of $0.22 and a 52-week high of $1.30. The business has a fifty day moving average of $0.34 and a 200-day moving average of $0.45.

Silo Pharma (NASDAQ:SILO) last posted its quarterly earnings data on Friday, March 27th. The company reported $0.03 EPS for the quarter. Silo Pharma had a negative net margin of 7,050.00% and a negative return on equity of 107.03%. The business had revenue of $0.02 million during the quarter.

Hedge Funds Weigh In On Silo Pharma

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of Silo Pharma by 134.6% in the fourth quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock valued at $32,000 after acquiring an additional 53,309 shares in the last quarter. Virtu Financial LLC purchased a new stake in Silo Pharma during the 3rd quarter worth about $74,000. DRW Securities LLC acquired a new stake in Silo Pharma in the 4th quarter valued at about $113,000. AdvisorShares Investments LLC raised its position in Silo Pharma by 64.3% in the 4th quarter. AdvisorShares Investments LLC now owns 599,507 shares of the company’s stock valued at $204,000 after purchasing an additional 234,629 shares in the last quarter. Finally, Anson Funds Management LP purchased a new position in shares of Silo Pharma in the 3rd quarter valued at about $657,000. Institutional investors and hedge funds own 5.58% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Silo Pharma in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Silo Pharma Company Profile

Silo Pharma, Inc (NASDAQ:SILO) is a clinical-stage biotechnology company focused on the discovery, development and commercialization of novel psychedelic and related synthetic therapies. Headquartered in New York City, the company applies proprietary chemistry and targeted drug delivery approaches to advance candidates that address critical unmet needs across oncology, neurology and mental health.

The company’s preclinical and early-stage clinical pipeline comprises several programs that explore serotonin receptor modulators, synthetic analogs of classic psychoactive compounds and neuroprotective agents.