Short Interest in Psyence Biomedical Ltd. (NASDAQ:PBM) Declines By 14.7%

Psyence Biomedical Ltd. (NASDAQ:PBM) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totaling 43,145 shares, a decline of 14.7% from the March 31st total of 50,560 shares. Based on an average daily trading volume, of 25,145 shares, the short-interest ratio is presently 1.7 days. Currently, 4.4% of the shares of the company are sold short.

Psyence Biomedical Stock Down 4.5%

Shares of NASDAQ:PBM opened at $6.30 on Friday. The business has a 50-day moving average price of $3.68 and a 200-day moving average price of $7.80. Psyence Biomedical has a 52-week low of $1.92 and a 52-week high of $74.94. The stock has a market cap of $6.43 million, a price-to-earnings ratio of 0.25 and a beta of 0.31.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,325 shares of the company’s stock, valued at approximately $33,000. Virtu Financial LLC owned 0.55% of Psyence Biomedical as of its most recent filing with the Securities and Exchange Commission (SEC). 77.44% of the stock is owned by institutional investors.

Psyence Biomedical Company Profile

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.