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

Silo Pharma, Inc. (NASDAQ:SILO) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 322,795 shares, a decline of 55.7% from the May 14th total of 728,373 shares. Based on an average daily volume of 222,602 shares, the days-to-cover ratio is currently 1.5 days. Approximately 34.9% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SILO. Virtu Financial LLC acquired a new position in shares of Silo Pharma during the third quarter worth approximately $74,000. Anson Funds Management LP acquired a new position in shares of Silo Pharma during the third quarter worth approximately $657,000. Geode Capital Management LLC lifted its holdings in shares of Silo Pharma by 134.6% during the fourth quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock worth $32,000 after buying an additional 53,309 shares during the last quarter. AdvisorShares Investments LLC lifted its holdings in shares of Silo Pharma by 64.3% during the fourth quarter. AdvisorShares Investments LLC now owns 599,507 shares of the company’s stock worth $204,000 after buying an additional 234,629 shares during the last quarter. Finally, DRW Securities LLC acquired a new position in shares of Silo Pharma during the fourth quarter worth approximately $113,000. 5.58% of the stock is currently owned by institutional investors and hedge funds.

Silo Pharma Stock Up 3.0%

SILO traded up $0.19 on Friday, hitting $6.63. The company had a trading volume of 19,675 shares, compared to its average volume of 28,055. The company’s fifty day moving average price is $6.43 and its 200 day moving average price is $5.81. Silo Pharma has a 1-year low of $3.32 and a 1-year high of $15.15.

Silo Pharma (NASDAQ:SILO) last issued its quarterly earnings results on Friday, March 27th. The company reported $0.45 EPS for the quarter. Silo Pharma had a negative return on equity of 88.40% and a negative net margin of 6,726.39%.The company had revenue of $0.02 million during the quarter.

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.