Silo Pharma, Inc. (NASDAQ:SILO) Sees Significant Decrease in Short Interest

Silo Pharma, Inc. (NASDAQ:SILO) was the recipient of a significant drop in short interest in May. As of May 29th, there was short interest totaling 322,795 shares, a drop of 55.7% from the May 14th total of 728,373 shares. Approximately 34.9% of the shares of the stock are short sold. Based on an average daily volume of 222,602 shares, the short-interest ratio is presently 1.5 days.

Institutional Investors Weigh In On Silo Pharma

Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in shares of Silo Pharma by 134.6% during the fourth quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock valued at $32,000 after buying an additional 53,309 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Silo Pharma during the 3rd quarter valued at about $74,000. DRW Securities LLC acquired a new position in Silo Pharma in the fourth quarter valued at approximately $113,000. AdvisorShares Investments LLC raised its position in shares of Silo Pharma by 64.3% in the fourth quarter. AdvisorShares Investments LLC now owns 599,507 shares of the company’s stock worth $204,000 after acquiring an additional 234,629 shares during the period. Finally, Anson Funds Management LP purchased a new position in shares of Silo Pharma during the 3rd quarter valued at approximately $657,000. Hedge funds and other institutional investors own 5.58% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Silo Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. One 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

Shares of SILO traded down $0.26 during mid-day trading on Monday, reaching $6.38. 21,930 shares of the company’s stock traded hands, compared to its average volume of 187,938. The stock’s 50-day moving average is $6.43 and its two-hundred day moving average is $5.81. Silo Pharma has a 12 month low of $3.32 and a 12 month high of $15.15. The stock has a market cap of $6.02 million, a P/E ratio of -0.99 and a beta of 0.63.

Silo Pharma (NASDAQ:SILO) last issued its earnings results on Friday, March 27th. The company reported $0.45 earnings per share (EPS) for the quarter. The firm had revenue of $0.02 million during the quarter. Silo Pharma had a negative net margin of 6,726.39% and a negative return on equity of 88.40%.

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.