Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Down 63.5% in May

Psyence Biomedical Ltd. (NASDAQ:PBM) was the recipient of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 25,988 shares, a decrease of 63.5% from the May 14th total of 71,272 shares. Currently, 2.6% of the shares of the stock are sold short. Based on an average trading volume of 81,827 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Psyence Biomedical stock. Virtu Financial LLC lifted its stake in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) by 258.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,042 shares of the company’s stock after acquiring an additional 26,717 shares during the period. Virtu Financial LLC owned 3.63% of Psyence Biomedical worth $28,000 as of its most recent SEC filing. Institutional investors and hedge funds own 77.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Psyence Biomedical to a “hold” rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Psyence Biomedical currently has a consensus rating of “Sell”.

Psyence Biomedical Stock Down 4.6%

Shares of PBM stock traded down $0.16 during trading hours on Friday, hitting $3.33. 62,536 shares of the company were exchanged, compared to its average volume of 93,686. The firm has a market cap of $3.40 million, a PE ratio of 0.13 and a beta of 1.64. Psyence Biomedical has a 1 year low of $1.92 and a 1 year high of $74.94. The firm has a fifty day moving average of $4.79 and a 200 day moving average of $4.86.

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.