Silo Pharma (NASDAQ:SILO) Shares Down 2% – What’s Next?

Silo Pharma, Inc. (NASDAQ:SILO)’s share price traded down 2% during mid-day trading on Thursday . The stock traded as low as $4.77 and last traded at $4.78. 36,179 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 424,250 shares. The stock had previously closed at $4.88.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Silo Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Silo Pharma Price Performance

The firm has a market capitalization of $5.40 million, a price-to-earnings ratio of -0.74 and a beta of 0.63. The stock has a fifty day moving average of $5.99 and a two-hundred day moving average of $5.75.

Institutional Investors Weigh In On Silo Pharma

Institutional investors have recently made changes to their positions in the stock. AdvisorShares Investments LLC lifted its stake in shares of Silo Pharma by 10.8% in the first quarter. AdvisorShares Investments LLC now owns 663,965 shares of the company’s stock worth $239,000 after acquiring an additional 64,458 shares during the period. DRW Securities LLC bought a new stake in Silo Pharma in the fourth quarter valued at approximately $113,000. Virtu Financial LLC acquired a new stake in Silo Pharma during the 3rd quarter valued at approximately $74,000. Finally, Geode Capital Management LLC increased its position in Silo Pharma by 134.6% during the 4th quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock valued at $32,000 after purchasing an additional 53,309 shares during the period. Institutional investors own 5.58% of the company’s stock.

About Silo Pharma

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.