Silo Pharma (NASDAQ:SILO) Stock Price Up 4% – What’s Next?

Silo Pharma, Inc. (NASDAQ:SILO)’s stock price traded up 4% during mid-day trading on Friday . The stock traded as high as $0.4080 and last traded at $0.3910. 221,532 shares were traded during mid-day trading, a decline of 44% from the average session volume of 397,030 shares. The stock had previously closed at $0.3760.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Silo Pharma in a research report on Friday, April 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Silo Pharma Trading Up 4.0%

The stock’s 50 day moving average is $0.41 and its 200-day moving average is $0.39. The company has a market cap of $6.36 million, a P/E ratio of -0.91 and a beta of 0.65.

Silo Pharma (NASDAQ:SILO) last released its quarterly earnings data on Friday, March 27th. The company reported $0.03 earnings per share (EPS) for the quarter. The business had revenue of $0.02 million for the quarter. Silo Pharma had a negative return on equity of 88.40% and a negative net margin of 6,726.39%.

Hedge Funds Weigh In On Silo Pharma

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AdvisorShares Investments LLC boosted its holdings in shares of Silo Pharma by 98.0% during the 3rd quarter. AdvisorShares Investments LLC now owns 364,878 shares of the company’s stock valued at $252,000 after acquiring an additional 180,642 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Silo Pharma during the third quarter valued at approximately $74,000. Anson Funds Management LP bought a new position in Silo Pharma during the third quarter valued at approximately $657,000. Geode Capital Management LLC boosted its holdings in Silo Pharma by 134.6% in the fourth quarter. Geode Capital Management LLC now owns 92,905 shares of the company’s stock worth $32,000 after purchasing an additional 53,309 shares during the last quarter. Finally, DRW Securities LLC purchased a new stake in Silo Pharma in the fourth quarter worth approximately $113,000. Institutional investors own 5.58% of the company’s stock.

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.