Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Up 1,224.0% in December

Psyence Biomedical Ltd. (NASDAQ:PBM) was the recipient of a large increase in short interest in December. As of December 15th, there was short interest totalling 137,700 shares, an increase of 1,224.0% from the November 30th total of 10,400 shares. Based on an average trading volume of 2,300,000 shares, the short-interest ratio is presently 0.1 days. Approximately 24.8% of the shares of the stock are short sold.

Hedge Funds Weigh In On Psyence Biomedical

An institutional investor recently raised its position in Psyence Biomedical stock. AdvisorShares Investments LLC lifted its stake in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) by 70.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 463,042 shares of the company’s stock after acquiring an additional 191,706 shares during the period. AdvisorShares Investments LLC owned approximately 5.27% of Psyence Biomedical worth $148,000 as of its most recent SEC filing. 77.44% of the stock is owned by institutional investors.

Psyence Biomedical Stock Up 0.8 %

Shares of NASDAQ PBM traded up $0.02 during midday trading on Thursday, hitting $2.45. 498,033 shares of the company’s stock were exchanged, compared to its average volume of 678,295. The business’s fifty day moving average price is $4.28 and its two-hundred day moving average price is $18.69. Psyence Biomedical has a 12-month low of $1.51 and a 12-month high of $323.25.

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.