Psyence Biomedical Ltd. (NASDAQ:PBM) Sees Large Drop in Short Interest

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totaling 67,332 shares, a drop of 40.8% from the December 31st total of 113,708 shares. Based on an average trading volume of 305,635 shares, the days-to-cover ratio is presently 0.2 days. Currently, 6.8% of the shares of the company are sold short. Currently, 6.8% of the shares of the company are sold short. Based on an average trading volume of 305,635 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Psyence Biomedical currently has an average rating of “Sell”.

Psyence Biomedical Trading Down 7.0%

PBM traded down $0.05 during trading hours on Friday, hitting $0.67. The company’s stock had a trading volume of 324,449 shares, compared to its average volume of 480,160. The company has a 50-day simple moving average of $6.36 and a 200 day simple moving average of $17.75. The firm has a market capitalization of $684,740.00, a PE ratio of 0.17 and a beta of 0.32. Psyence Biomedical has a fifty-two week low of $0.61 and a fifty-two week high of $12.80.

Institutional Trading of Psyence Biomedical

An institutional investor recently bought a new position in Psyence Biomedical stock. Virtu Financial LLC acquired a new stake in Psyence Biomedical Ltd. (NASDAQ:PBM) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned about 0.55% of Psyence Biomedical at the end of the most recent quarter. Institutional investors and hedge funds own 77.44% of the company’s stock.

About Psyence Biomedical

Psyence Biomedical Ltd. engages in the development of botanical psilocybin-based psychedelic medicines. It also evaluates natural psilocybin for the treatment of adjustment disorder in patients with an incurable cancer diagnosis in a palliative care context. The company’s lead product candidate is PEX010, which is in Phase IIb clinical study, a capsule containing naturally sourced psilocybin for treatment of anxiety and depression, including associated ailments, such as post-traumatic stress disorder, stress, grief, and adjustment disorder in the context of palliative care.