Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Up 63.8% in February

Psyence Biomedical Ltd. (NASDAQ:PBM) saw a significant increase in short interest during the month of February. As of February 27th, there was short interest totaling 142,080 shares, an increase of 63.8% from the February 12th total of 86,725 shares. Approximately 14.4% of the shares of the company are sold short. Based on an average trading volume of 255,898 shares, the days-to-cover ratio is presently 0.6 days. Based on an average trading volume of 255,898 shares, the days-to-cover ratio is presently 0.6 days. Approximately 14.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Psyence Biomedical

An institutional investor recently bought a new position in Psyence Biomedical stock. Virtu Financial LLC bought a new position in Psyence Biomedical Ltd. (NASDAQ:PBM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned approximately 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.

Psyence Biomedical Price Performance

Psyence Biomedical stock remained flat at $2.46 during mid-day trading on Friday. 3,135 shares of the company traded hands, compared to its average volume of 258,058. Psyence Biomedical has a one year low of $1.92 and a one year high of $74.94. The company has a 50 day moving average of $3.54 and a 200 day moving average of $11.95. The stock has a market cap of $2.51 million, a price-to-earnings ratio of 0.10 and a beta of 0.36.

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.