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

Silo Pharma, Inc. (NASDAQ:SILO) saw a large decline in short interest in June. As of June 15th, there was short interest totaling 16,790 shares, a decline of 94.8% from the May 31st total of 322,795 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 41,247 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

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

Silo Pharma Stock Down 7.4%

Shares of SILO traded down $0.46 during midday trading on Thursday, hitting $5.76. The company’s stock had a trading volume of 31,676 shares, compared to its average volume of 180,644. Silo Pharma has a one year low of $3.32 and a one year high of $15.15. The stock has a market capitalization of $6.22 million, a price-to-earnings ratio of -0.89 and a beta of 0.63. The company’s fifty day simple moving average is $6.41 and its two-hundred day simple moving average is $5.77.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently 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.