Short Interest in Silo Pharma, Inc. (NASDAQ:SILO) Declines By 60.0%

Silo Pharma, Inc. (NASDAQ:SILO) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 33,208 shares, a drop of 60.0% from the August 15th total of 82,948 shares. Based on an average daily volume of 206,120 shares, the short-interest ratio is presently 0.2 days. Currently, 2.2% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Silo Pharma has an average rating of “Sell”.

Silo Pharma Price Performance

NASDAQ SILO traded down $0.13 on Tuesday, hitting $1.94. 37,574 shares of the stock were exchanged, compared to its average volume of 190,219. The company has a market capitalization of $3.08 million, a PE ratio of -0.46 and a beta of 0.66. The business’s fifty day moving average is $3.73 and its 200 day moving average is $5.23. Silo Pharma has a 52 week low of $1.91 and a 52 week high of $15.15.

Silo Pharma (NASDAQ:SILO) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.44). Silo Pharma had a negative net margin of 6,726.39% and a negative return on equity of 81.75%.

Institutional Trading of Silo Pharma

A hedge fund recently raised its stake in Silo Pharma stock. AdvisorShares Investments LLC increased its holdings in shares of Silo Pharma, Inc. (NASDAQ:SILO) by 64.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 599,507 shares of the company’s stock after acquiring an additional 234,629 shares during the quarter. AdvisorShares Investments LLC owned about 4.50% of Silo Pharma worth $204,000 as of its most recent SEC filing. 5.58% of the stock is currently owned by hedge funds and other institutional investors.

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.