Short Interest in Silo Pharma, Inc. (NASDAQ:SILO) Declines By 45.6%

Silo Pharma, Inc. (NASDAQ:SILO) saw a significant drop in short interest in March. As of March 13th, there was short interest totaling 319,975 shares, a drop of 45.6% from the February 26th total of 588,548 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average trading volume of 234,469 shares, the days-to-cover ratio is currently 1.4 days.

Silo Pharma Stock Performance

Shares of Silo Pharma stock opened at $0.38 on Friday. The firm has a 50-day simple moving average of $0.34 and a two-hundred day simple moving average of $0.45. Silo Pharma has a fifty-two week low of $0.22 and a fifty-two week high of $1.35. The company has a market cap of $5.05 million, a P/E ratio of -0.40 and a beta of 0.39.

Hedge Funds Weigh In On Silo Pharma

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Silo Pharma in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Silo Pharma currently has a consensus 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.