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

Silo Pharma, Inc. (NASDAQ:SILO) saw a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 82,948 shares, a decline of 34.5% from the July 30th total of 126,549 shares. Currently, 5.4% of the shares of the company are short sold. Based on an average daily trading volume, of 81,506 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of Silo Pharma

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

Silo Pharma Stock Up 0.6%

Shares of Silo Pharma stock traded up $0.01 during trading on Wednesday, reaching $2.46. The company’s stock had a trading volume of 971 shares, compared to its average volume of 197,863. Silo Pharma has a 12-month low of $2.43 and a 12-month high of $15.15. The company has a market capitalization of $3.90 million, a P/E ratio of -0.56 and a beta of 0.66. The business has a 50 day moving average price of $4.43 and a 200-day moving average price of $5.37.

Silo Pharma (NASDAQ:SILO) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.44). Silo Pharma had a negative return on equity of 81.75% and a negative net margin of 6,726.39%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Silo Pharma 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.