Silo Pharma, Inc. (NASDAQ:SILO) Short Interest Up 795.6% in July

Silo Pharma, Inc. (NASDAQ:SILO) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 155,110 shares, a growth of 795.6% from the June 30th total of 17,320 shares. Based on an average daily volume of 708,397 shares, the days-to-cover ratio is currently 0.2 days. Approximately 14.3% of the company’s stock are short sold.

Silo Pharma Stock Up 0.2%

Shares of Silo Pharma stock opened at $4.47 on Friday. Silo Pharma has a 12-month low of $3.32 and a 12-month high of $15.15. The stock has a market cap of $5.05 million, a P/E ratio of -0.69 and a beta of 0.63. The business’s 50 day moving average is $5.84 and its 200-day moving average is $5.72.

Hedge Funds Weigh In On Silo Pharma

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in 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 during the last quarter. Virtu Financial LLC bought a new position in shares of Silo Pharma in the 3rd quarter valued at about $74,000. DRW Securities LLC acquired a new position in shares of Silo Pharma during the 4th quarter worth about $113,000. Finally, AdvisorShares Investments LLC increased its stake in shares of 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 during the last quarter. 5.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Silo Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About Silo Pharma

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.